Saudi Azm for Communication and Information Technology
Riyadh-based company listed on the Saudi Exchange (7211) that builds software platforms and provides consulting, technical and fintech services, mainly to Saudi government bodies and banks.
Industry: IT consulting and digital services | Location: Riyadh, Saudi Arabia | Founded: 2017
About Saudi Azm for Communication and Information Technology
Saudi Azm for Communication and Information Technology Company, known as Azm, is a Riyadh-based information technology and digital services company listed on the Saudi Exchange under code 7211 in the Software & Services sector. TechScoop describes it as a builder of software platforms and a provider of consulting, human-resources and fintech services.
Mubasher's company profile gives its establishment date as 29 November 2017. Majed Al-Osaimi chairs the board in a non-executive capacity and Ali Al-Ballaa is Managing Director and chief executive. Mubasher's listing shows them as its two largest shareholders, each with about 20 percent. Ahmed Al Haqbani is vice chairman, and the board's term runs to June 2030.
TechScoop reports that its clients are mainly Saudi government bodies and banks, naming Al Rajhi Bank, Riyad Bank, Alinma Bank and Bank AlJazira. In March 2022 the Small and Medium Enterprises General Authority awarded it an 18-month contract to operate a second class of SME support services. In July 2026 the Ministry of Human Resources and Social Development awarded it a contract to develop the Social Support and Subsidy Programs Platform.
Its shares began trading on the Nomu parallel market on 1 March 2022 and moved to the main market on 21 July 2025. On 5 May 2025 it signed an agreement with the National Housing Company to form Wasl Platform for Communications and Information Technology, equally owned by the two. Saudi Central Bank gave preliminary approval in August 2025, and Azm disclosed a final licence on 6 August 2026.
TechScoop reported revenue of about SAR 307 million for the fiscal year to 30 June 2026, against about SAR 253 million a year earlier. For the nine months to 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 study acquiring all of AZM FinTech, a Saudi Central Bank-licensed company that shares owners and directors with it. Argaam reported that the memorandum runs for 12 months, with the price to be set after due diligence.
Leadership
- Majed Al-Osaimi, Chairman of the Board (non-executive)
- Ali Al-Ballaa, Managing Director and Chief Executive Officer
- Ahmed Al Haqbani, Vice Chairman (independent)
- Mohammed Al Qunaibit, Board member
- Omar Al Jeraisy, Board member