GAC fines 2 affiliates of Al Rajhi Bank on collusion in govt projects

18/09/2024 Argaam
Logo ofGeneral Authority for Competition (GAC)

Logo of General Authority for Competition (GAC)

The General Authority for Competition (GAC) announced the penalties imposed on two establishments in the information technology sector, over violations of the Competition Law. These establishments colluded through coordination in submitting price quotes for government projects.

 

On its X account, GAC explained that the two violating firms are Ejada Systems Ltd, which was fined SAR 6 million, and Omnix International, which was fined around SAR 20,000.

 

According to Argaam data, Al Rajhi Bank had acquired 100% of Ejada in 2022.

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