Riyadh — Mubasher: Arabian Internet and Communications Services Company (solutions) has penned a contract worth SAR 190 million with STC Bank to provide managed messaging services, according to a bourse filing.
The agreement was signed and awarded on 6 October 2026, carrying a total duration of two years.
The company expects the financial impact of this contract to be reflected in its financial statements starting from the fourth quarter (Q4) of 2026.
This transaction is classified as a related party deal because Saudi Telecom Company (stc) is the majority shareholder in both entities.
Furthermore, stc holds a 79% stake in solutions and a 92.30% stake in STC Bank.
The contract focuses exclusively on the provision of managed messaging services to support the digital operations of STC Bank.
This agreement also aligns with solutions’ strategy to expand its service offerings within the Saudi financial technology sector through its major shareholder network.
