Ministry of Hajj and Umrah Completes Transformation of Arbab Al-Tawaif Establishments into Shareholding Companies

Jeddah, The Ministry of Hajj and Umrah announced that it has completed all measures related to transforming Arbab Al-Tawaif Establishments into nine shareholding companies with the aim of institutionalizing the delivery of services to pilgrims in implementation of the Kingdom Vision 2030.

Dr. Abdulfattah bin Sulaiman Mashat, Deputy Minister of Hajj and Umrah, said that the transformation of Arbab Al-Tawaif Establishments into shareholding companies is primarily centered around enhancing the quality of services extended to the pilgrims and visitors of the Two Holy Mosques, adding that the transformation process has been carried out with complete transparency and fairness.

He also noted that the companies bylaws, their capital, the appointment of board members and auditors were among the major topics discussed during the first and second meetings of the founding assemblies of the Arbab Al-Tawaif Establishments.

Mashat also explained that the transformation would diversify investment and partnerships and consequently increase shareholders' benefits and would enable the companies to expand their investment activities.

Source: Saudi Press Agency