Saudi Azm says Wasl Platform obtains SAMA's approval for digital brokerage

Logo of Saudi Azm for Communication and Information Technology Co.

Saudi Azm for Communication and Information Technology Co. said that Wasl Platform for Communications and Information Technology obtained initial approval from the Saudi Central Bank (SAMA) to conduct digital brokerage activity.

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In a statement to Tadawul, the company pointed out that Wasl Platform is currently working to complete the necessary procedures to obtain the final license.

The platform aims to redefine the digital financing experience in Saudi Arabia, the statement noted, adding that the preliminary approval from SAMA does not constitute a final license.

According to data available with Argaam, the platform is a joint venture equally owned by Saudi Azm and the National Housing Co. (NHC), offering digital services and financial brokerage solutions to users.