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NewsTranscript
00:00 Thank you for the invitation.
00:02 In the last quarter, we stopped the acquisition of one of the banks in the Philippines
00:09 so that we can open a whole space between our users in the Philippines,
00:17 our users in the UAE and the Arabian Gulf.
00:21 We had a huge growth in the number of attempts that are taking place between the UAE and outside the UAE.
00:28 We started looking at the Saudi market in earnest,
00:31 and we will soon announce a big launch in the Saudi market in the next quarter.
00:37 In general, what is the value of the acquisition of the bank in the Philippines?
00:39 And also, what is the ratio of transfers between the UAE and the Philippines?
00:43 What are the total transfers that this company performs to get the acquisition of the bank there?
00:49 Now, the value of the acquisition of the bank is not yet announced,
00:53 until the Central Bank of the Philippines announces it, because they have a law.
00:56 But the UAE is one of the largest countries or the Arabian Gulf is one of the largest regions in the world
01:01 in terms of money transfers to the Philippines.
01:02 You have about 20% of the total value of the attempts from this market to the Philippines
01:07 because of the business and so on.
01:09 So, we are talking about more than 20 billion dollars annually
01:12 of attempts from our region to the Philippine market.
01:17 In general, how much is the total amount of transfers that this company has made in the first 11 months?
01:22 And what is the order of the countries? You see, the Philippines and maybe Egypt also have a share.
01:28 We were the fastest growing company in terms of the value of the attempts in the history of the country.
01:34 In the first 6 months, we have made a 2 billion dollar transfer from the value of the attempts.
01:39 And of course, we have seen that the attempts are bigger for India and South Asia,
01:44 and then in the Arab region to Egypt, and then to Africa,
01:48 several countries in Africa as well.
01:50 Abdullah, you have mentioned that the expansion is coming in Saudi Arabia.
01:53 What is the specific target? And why the Saudi market?
01:55 And we see, of course, a big growth in the target for the coming years.
02:00 The Saudi market has been closed for a long time in the world of technology
02:04 and closed on the opening that we are seeing now.
02:06 Although it is one of the strongest markets in the region,
02:09 one of the largest markets, whether in terms of the size of the population,
02:11 the size of the users, or the purchasing power in this market.
02:15 We are seeing how we can now expand our services
02:17 because we have a user base of more than 5 million users in Saudi Arabia.
02:22 So we are seeing how we can expand our services to the Saudi market
02:25 so that there is a complete financial bridge between the UAE and Saudi Arabia,
02:31 and the region in a larger way, and the Saudi market as well.
02:34 The value of the acquisitions that are expected in the coming year,
02:37 or in general in the company's year,
02:39 does it support a specific amount that the expansion and acquisitions will use?
02:43 Last year, we invested about 500 million dollars in the companies that we acquired.
02:49 Next year, we will focus more on the organization of these companies
02:52 in a way that it is within our ecosystem in a larger way.
02:58 So we will not make big acquisitions next year,
03:01 but we expect that we will be, as a market value,
03:05 one of the top companies in the region in terms of financial technology.
03:11 And even in our accounts, we are now exceeding the banks in terms of value,
03:15 in terms of the number of acquisitions, the number of transactions, and so on.
03:20 Can we see a new funding plan for the coming year?
03:23 No, no. As a profitable company, we have profits,
03:27 and thank God, we don't need to include new investors.
03:31 We can include investors if there are strategic companies that we want to invest in,
03:35 but we don't need to go out to the market and include investors or raise money.
03:40 Regarding the structure of the companies that have been acquired,
03:43 how long do you expect the structure to be in the coming year?
03:47 Since you talked about it, and the other thing, after the structure,
03:50 can we see the group in the Abu Dhabi financial papers market?
03:54 Your question is always excellent.
03:56 We started the structure at the beginning of the year,
03:59 before we acquired the companies, we had an idea of how we wanted to arrange it.
04:04 The structure will end in the first quarter of the coming year.
04:08 Of course, the proposal in the markets is always there,
04:11 especially when the profit is appropriate and the size of the company is appropriate.
04:16 We didn't set a time for the proposal,
04:19 but it is an idea that we have and we are thinking about it seriously.
04:22 Thank you.