Riyadh – Mubasher: Wasel Platform for Communications and Information Technology, a subsidiary of Saudi Azm for Communication and Information Technology Company, has obtained a formal license from the Saudi Central Bank (SAMA).

The license, received on 6 August 2026, authorizes the platform to provide digital brokerage services for financing entities within the Kingdom of Saudi Arabia.

This regulatory milestone follows the initial approval previously granted by SAMA, which was disclosed by the company on 4 August 2025.

With the receipt of the final notification, Wasel Platform has completed all necessary procedures required to transition from preliminary approval to full operational status.

The subsidiary will commence its brokerage activities in accordance with the rules and regulations established by the central bank.

Saudi Azm noted that the licensing is expected to have a positive impact on the business operations of Wasel Platform.

The company confirmed that the detailed financial impact resulting from this development will be disclosed within its financial statements as the information becomes available.

On 1 August, the listed company penned a non-binding memorandum of understanding (MoU) to study the potential acquisition of 100% of the shares in Azm Fintech.