Logo ofSaudi Azm for Communication and Information Technology Co.
Saudi Azm for Communication and Information Technology Co. signed, on May 5, a partnership agreement with the National Housing Co. (NHC) to collaborate through a specialized company focused on delivering digital services and financial brokerage solutions. 
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In a statement to Tadawul, the company said that under the agreement, Wasl Platform for Communications and Information Technology will be the entity responsible for developing and operating the digital platform under the partnership.
The company’s capital will be equally shared between Azm Saudi and NHC, with each holding a 50% stake.
The company added that it will provide technology and fintech services, and will develop, operate, and manage digital brokerage services with the goal of redefining the user experience and enabling users to access a variety of financing options securely and efficiently. The company’s scope will also include potential future digital projects between the two parties.
Saudi Azm noted that the partnership and related projects are subject to obtaining the necessary regulatory approvals from the relevant authorities in Saudi Arabia.
Any material developments will be announced in due course, the company said, expecting the partnership to have a positive financial impact in the coming period.
According to data available with Argaam, Saudi Azm signed a memorandum of understanding (MOU) with NHC in September 2023 to enhance services through the adoption of modern technologies and the development of innovative financial solutions and tools.
Logo ofSaudi Azm for Communication and Information Technology Co.
Saudi Azm for Communication and Information Technology Co. signed, on May 5, a partnership agreement with the National Housing Co. (NHC) to collaborate through a specialized company focused on delivering digital services and financial brokerage solutions.
For more news on listed companies
In a statement to Tadawul, the company said that under the agreement, Wasl Platform for Communications and Information Technology will be the entity responsible for developing and operating the digital platform under the partnership.
The company’s capital will be equally shared between Azm Saudi and NHC, with each holding a 50% stake.
The company added that it will provide technology and fintech services, and will develop, operate, and manage digital brokerage services with the goal of redefining the user experience and enabling users to access a variety of financing options securely and efficiently. The company’s scope will also include potential future digital projects between the two parties.
Saudi Azm noted that the partnership and related projects are subject to obtaining the necessary regulatory approvals from the relevant authorities in Saudi Arabia.
Any material developments will be announced in due course, the company said, expecting the partnership to have a positive financial impact in the coming period.
According to data available with Argaam, Saudi Azm signed a memorandum of understanding (MOU) with NHC in September 2023 to enhance services through the adoption of modern technologies and the development of innovative financial solutions and tools.
