Saudi Azm signs contract to develop Awqaf PAY platform

19/12/2022 Argaam
Logo of Saudi Azm for Communication and Information Technology Co.

Logo of Saudi Azm for Communication and Information Technology Co.

Saudi Azm for Communication and Information Technology Co. signed, on Dec. 18, a contract worth SAR 9.54 million with the General Authority for Awqaf (GAA) to develop and design the digital endowment account platform system "Awqaf PAY”.

 

In a statement to Tadawul, Saudi Azm said the contract, which was awarded in October, is valid for 36 months as of the signing date.

 

The company expected a positive financial impact from this agreement on its earnings from 2023-2025.

 

The necessary signatures were secured. Also, a copy of the contract was received today, Dec. 19, Saudi Azm added, noting that there are no related parties.

 

In October, the company was awarded a SAR 9.54 million project by the GAA to develop and design the e-platform, Argaam earlier reported.

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