Saudi Azm
Saudi Azm for Communication and Information Technology is a Riyadh-based IT and digital services company listed on Tadawul as 7211, serving mainly Saudi government bodies and banks.
Industry: IT and digital services | Location: Riyadh, Saudi Arabia | Founded: 2017
About Saudi Azm
Saudi Azm for Communication and Information Technology, known as Azm, is a Riyadh-based company listed on the Saudi Exchange under code 7211 in the Software & Services sector. TradingView says it was founded on 29 November 2017. TechScoop describes it as a provider of software platforms, technical projects, consulting, human resources services and fintech services, with clients that are mainly Saudi government bodies and banks such as Al Rajhi and Riyad Bank. Its website states that it is a Great Place to Work certified employer and a Platinum-level service provider accredited by the Digital Government Authority.
Mubasher reported that the company began trading on the Nomu parallel market on 1 March 2022. Argaam reported that it moved to the main market on 21 July 2025. Argaam's August 2026 report names Ali Al-Ballaa as chief executive and a major shareholder, and Majed Al-Osaimi as chairman and a major shareholder.
In March 2022 Mubasher reported an 18-month contract from the Small and Medium Enterprises General Authority to operate a second class of its SME support services. TechScoop reported that Azm and the National Housing Company formed a 50-50 venture called Wasl Platform under a June 2025 agreement, and that Wasl received a Saudi Central Bank licence for finance aggregation in August 2026. It also reported a July 2026 contract with the Ministry of Human Resources and Social Development to develop the Social Support and Subsidy Programs Platform.
TechScoop reported revenue of about SAR 307 million for the fiscal year ended 30 June 2026, against about SAR 253 million a year earlier. For the nine months to the end of March 2026 it reported revenue of SAR 220.41 million, up 16.55 percent, and net profit of SAR 34.7 million, up about 37 percent.
On 2 August 2026 Azm signed a non-binding memorandum of understanding to acquire all of AZM FinTech, a Saudi Central Bank-licensed payments company with which it shares owners and directors. Argaam reported that the memorandum runs for 12 months and the price will be set after due diligence.
Leadership
- Ali Al-Ballaa, Chief Executive Officer and board member
- Majed Al-Osaimi, Chairman