Saudi Azm inks contract with Awqaf for SR 9.5 mln

Saudi Azm Telecom and Information Technology Co. announced signing of a contract with the General Authority of Awqaf to develop and design the system for the digital endowment account platform “PAY Endowment”, with a value of (9,543,850) riyals, as the contract period is 36 months, starting from the date of the business start-up.

The project aims to provide the capabilities and tools that contribute to the development of processes between individuals and endowment organizations and increase confidence in the endowment sector.

The company said in a statement today on “Tadawul” that this contract is expected to have a positive financial impact on the financial results for the year 2023-2024-2025 AD, indicating that the necessary signatures have been completed and a copy of the contract has been received on 05-25-1444 AH corresponding to 12-19-2022 AD.