Riyadh - Mubasher: Saudi Azm for Communication and Information Technology Company inked a SAR 9.54 million contract with the Saudi General Authority for Awqaf (GAA) on 18 December 2022.
The 36-month agreement covers the development and designing of the digital endowment account platform system Awqaf PAY, according to a recent bourse filing.
The project aims to secure the capabilities and tools that contribute to boosting operations among individuals and endowment organisations, in addition to reinforcing confidence in the endowment sector.
Saudi Azm forecast that the deal, which was awarded on 30 October 2022, will reflect positively on its financial results during the period between 2023 and 2025.
Last September, the Saudi Ministry of Communications and Information Technology awarded the company a project at a value exceeding 10% of the latter’s total revenues in 2021.
