Logo ofEtihad GO Telecom Co. (GO Telecom)
Etihad GO Telecom Co. (GO Telecom) said its subsidiary, GO Money, received final approval from the Saudi Central Bank (SAMA) on Jan. 28 to provide micro consumer financing services in Saudi Arabia. 
GO Money will operate with SAR 20 million capital, the company said in a statement to Tadawul.
The company noted that GO Money aims to provide micro consumer financing services and contribute to enhancing the digital financial services ecosystem in Saudi Arabia, in line with the objectives of Saudi Vision 2030 and GO Telecom’s strategic direction.
The company added that the financial impact will be reflected in its consolidated financial statements once GO Money commences its operational activities.
According to data available with Argaam, GO Telecom’s subsidiary, Hulool Al-Intilaq Finance, received preliminary approval from SAMA last March to operate as a micro-consumer financing company in the Kingdom.
Last May, the company also received a no-objection letter from SAMA to change the name of its subsidiary from Holoul Al-Intilaq for Finance to alhulul almuntilaqa.
In the same month, it announced the completion of the incorporation of its wholly owned subsidiary, alhulul almuntilaqa (a closed joint-stock company), with 100% ownership, a capital of SAR 20 million, and headquarters in Riyadh.
Logo ofEtihad GO Telecom Co. (GO Telecom)
Etihad GO Telecom Co. (GO Telecom) said its subsidiary, GO Money, received final approval from the Saudi Central Bank (SAMA) on Jan. 28 to provide micro consumer financing services in Saudi Arabia.
GO Money will operate with SAR 20 million capital, the company said in a statement to Tadawul.
The company noted that GO Money aims to provide micro consumer financing services and contribute to enhancing the digital financial services ecosystem in Saudi Arabia, in line with the objectives of Saudi Vision 2030 and GO Telecom’s strategic direction.
The company added that the financial impact will be reflected in its consolidated financial statements once GO Money commences its operational activities.
According to data available with Argaam, GO Telecom’s subsidiary, Hulool Al-Intilaq Finance, received preliminary approval from SAMA last March to operate as a micro-consumer financing company in the Kingdom.
Last May, the company also received a no-objection letter from SAMA to change the name of its subsidiary from Holoul Al-Intilaq for Finance to alhulul almuntilaqa.
In the same month, it announced the completion of the incorporation of its wholly owned subsidiary, alhulul almuntilaqa (a closed joint-stock company), with 100% ownership, a capital of SAR 20 million, and headquarters in Riyadh.
