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Qatari Telecom Gains Capital Boost
Qatari Company Etihad Qow for Telecommunications ("Qow for Telecommunications") announced that the Saudi Central Bank ("SAMA") has approved the increase of its subsidiary "Qow Money"’s capital from 20 million SAR to 138 million SAR, a 590% increase. The capital increase will be carried out through a cash contribution of 100 million SAR and a capitalization of 18 million SAR from previous contributions, aimed at strengthening the financial position and supporting the company's growth. After the increase, "Qow" will continue to own 100% of the subsidiary, and the necessary regulatory procedures will be implemented. The financial impact will be reflected in the financial statements in accordance with the approved standards.
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