After reduction of restrictions on securities, Capital Market Authority (CMA) issued a decision on Wednesday to approve the first licenses of managing special investment funds, which are not real estate, and also managing experienced investors’ portfolios. The decision to reduce restrictions on required procedures to issue a license is a step that would enhance the investment environment in the Saudi stocks market. This step launches from the CMA program to achieve Saudi Vision 2030 and is a continuity to the authority role in organizing and developing the financial market. It also derives from the authority’s quest to attract qualified Saudi personnel, support national economy and encourage investment in SMEs. In this regard, CMA board of directors, Wednesday, granted license to Watheeq Financial Services Company to perform its activities of managing special investment funds, managing portfolios of experienced investors and providing consultancy in securities. This license is the first of its kind, and is a result of amending the list of licensed individuals, and reducing restrictions on license requirements. The purpose behind amending the list of licensed individuals, which was announced in October 2017, aims to urge assets’ management industry, increase the number of licensed assets managers and encourage demand on licensed products via reducing restrictions to acquire license in a number of activities. The amendment falls under CMA efforts to organize and develop the financial market, and as a pursuit to increase venture capital investments and private property, as well as support assets’ management industry in the kingdom, going in tandem with Saudi Vision 2030 and the program of CMA Financial Pioneering 2020.