On March 21, 2025, the Capital Market Authority (CMA) invited feedback from stakeholders involved in the capital market on the draft "Regulatory Framework for Debt Instruments Offering Platforms and Investing in Them." The consultation period will run for 30 days, ending on April 23, 2025. The draft aims to develop a regulatory framework for debt instrument offerings, including defining the licensing and regulatory requirements for capital market institutions conducting securities crowdfunding activities. If approved, the draft will allow institutions to offer debt instruments in the Sukuk and Debt Market and permit companies with a FinTech Experimental Permit to obtain the necessary license to operate as capital market institutions. Additionally, it outlines the licensing requirements for arranging securities and safeguarding client funds. The proposal seeks to expand the role of capital market institutions in financial technology activities, deepen the debt instruments market, and improve its appeal to issuers and investors, aligning with the CMA's strategic goals. The CMA emphasized that all feedback will be considered before finalizing the amendments.