GO's subsidiary secures SAMA approval to operate

Logo of Etihad Atheeb Telecommunication Co. (GO)

Etihad Atheeb Telecommunication Co.’s (GO) subsidiary, Hulool Al-Intilaq Finance, received preliminary approval from the Saudi Central Bank (SAMA) to operate as a micro-consumer financing company in the Kingdom.

Hulool Al-Intilaq has a capital of SAR 20 million and, once licensed, will provide micro-consumer financing services in compliance with Saudi regulations and laws, GO said.

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GO is working to complete the necessary regulatory procedures to establish Hulool Al-Intilaq Finance under the Companies Law with the Ministry of Commerce and Investment. It aims to finalize the process and meet SAMA’s requirements within six months to obtain the official license.

Once licensed, Hulool Al-Intilaq plans to offer a range of micro-consumer financing solutions as part of GO’s strategy to expand digital financial services and provide flexible financing options.

GO confirmed that the establishment of Hulool Al-Intilaq aligns with its vision to diversify revenue streams and enhance business sustainability by offering financial services that support digital transformation and market growth.

The company expects this expansion to create new opportunities that enhance return on investment, benefiting shareholders and stakeholders.

GO confirmed that any future developments regarding the final licensing of Hulool Al-Intilaq Finance by SAMA will be announced in due course.