Riyadh – Mubasher: United Company for Financial Services, a fully owned subsidiary of United Electronics Company (eXtra), received the Saudi Arabian Monetary Authority's (SAMA) approval to complete regulatory procedures to increase its capital by SAR 200 million.
The unit’s new capital will surge to SAR 350 million from SAR 150 million. The capital hike will be internally financed by the parent company, according to a bourse filing on Monday.
The step aims to support the company’s future growth plans to further expand in offering Sharia-compliant consumer finance solutions that meet clients’ needs.
