Riyadh - Sharikat Mubasher: Etihad Atheeb Telecommunication Company (Go Telecom) received initial approval from the Saudi Central Bank (SAMA) to establish a subsidiary, Hulool Al-Intilaq Finance, to engage in micro-consumer financing activities in Saudi Arabia, with a capital of SAR 20 million.
Go Telecom is currently completing all necessary regulatory procedures to establish Hulool Al-Intilaq Finance in compliance with the Companies Law under the Ministry of Commerce and Investment, the company announced in a bourse statement yesterday.
After obtaining the final license, Hulool Al-Intilaq Finance will provide a comprehensive suite of innovative micro-financing solutions. This initiative aligns with GO Telecom’s strategic vision of enhancing digital financial services, empowering customers with flexible and seamless financing options, and contributing to the advancement of financial inclusion in the Kingdom.
The establishment of Hulool Al-Intilaq Finance represents a milestone in Go Telecom’s growth strategy, aimed at diversifying revenue streams and enhancing long-term business sustainability.
By offering cutting-edge financial services, the company seeks to drive digital transformation, meet evolving market demands, and unlock new opportunities that generate sustainable value for shareholders and stakeholders alike.
