	English [member]
Start Date	2023-04-01	2022-04-01
End Date	2023-06-30	2022-06-30
Filing information [line items]
Disclosure of entity information [abstract]
Name of reporting entity	Saudi Tadawul Group Holding Co.
Company symbol code\| ISIN code	1111 \| SA15DHKGHBH4
Sector\| Industry group	Financials \| Capital Markets
Disclosure of document information [abstract]
Whether entity wants to report opening statement of financial position	No
Period covered by financial statements	Quarter 2
Reporting period start date	2023-04-01	2022-04-01
Reporting period end date	2023-06-30	2022-06-30
Description of nature of financial statements	Consolidated
Status of financial statements	Reviewed
Description of presentation currency	Saudi Arabia, Riyals
Level of rounding used in financial statements	Actuals
Method of presentation of statement of financial position	Current, non-current
Method of presentation of statement of income	Function of expense

	Primary auditor [member]	Second primary auditor [member]
	English [member]	English [member]
Start Date	2023-04-01	2023-04-01
End Date	2023-06-30	2023-06-30
Auditors information [line items]
Details of auditors signing report [abstract]
Name of auditor signing report	Waleed G. Tawfiq
Registration number of auditor	437
Details of audit firm [abstract]
Name of audit firm	Ernst & Young Professional Services (Professional LLC)
Registration number of audit firm	1010383821
Contact number of audit firm	Tel: +966 11 215 9898
Address of audit firm	Head OfficeAl Faisaliah Office Tower, 14th FloorKing Fahad RoadP.O. Box 2732Riyadh 11461Kingdom of Saudi Arabia

	English [member]
Start Date	2023-04-01
End Date	2023-06-30
Auditors report [line items]
Disclosures of auditors report [text block]	INDEPENDENT AUDITOR’S REVIEW REPORT ON THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS TO THE SHAREHOLDERS OF SAUDI TADAWUL GROUP HOLDING COMPANY (A SAUDI JOINT STOCK COMPANY) Introduction: We have reviewed the accompanying condensed consolidated interim statement of financial position of Saudi Tadawul Group Holding Company (A Saudi Joint Stock Company) (the “Company”) and its subsidiaries (collectively referred to as the “Group”) as at 30 June 2023 and the related condensed consolidated interim statement of profit and loss and other comprehensive income for the three-month and six-month periods then ended and the condensed consolidated interim statement of changes in equity and condensed consolidated interim statement of cash flows for the six-month period then ended, and a summary of significant accounting policies and other explanatory notes. Management is responsible for the preparation and presentation of these condensed consolidated interim financial statements in accordance with International Accounting Standard 34, “Interim Financial Reporting” (“IAS 34”) that is endorsed in the Kingdom of Saudi Arabia. Our responsibility is to express a conclusion on these condensed consolidated interim financial statements based on our review. Scope of Review We conducted our review in accordance with International Standard on Review Engagements 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” that is endorsed in the Kingdom of Saudi Arabia. A review of interim financial information consists of making inquiries, primarily of the persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing (“ISAs”) that are endorsed in the Kingdom of Saudi Arabia and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Conclusion Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed consolidated interim financial statements are not prepared, in all material respects, in accordance with IAS 34 that is endorsed in the Kingdom of Saudi Arabia. for Ernst & Young Professional Services Waleed G. Tawfiq Certified Public Accountant License No. (437) Riyadh: 4 Muharram 1445H (22 July 2023)
Contents of auditors report [abstract]
Nature of auditors opinion	Unmodified opinion
Auditors opinion	Conclusion Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed consolidated interim financial statements are not prepared, in all material respects, in accordance with IAS 34 that is endorsed in the Kingdom of Saudi Arabia.
Basis of opinion	Introduction: We have reviewed the accompanying condensed consolidated interim statement of financial position of Saudi Tadawul Group Holding Company (A Saudi Joint Stock Company) (the “Company”) and its subsidiaries (collectively referred to as the “Group”) as at 30 June 2023 and the related condensed consolidated interim statement of profit and loss and other comprehensive income for the three-month and six-month periods then ended and the condensed consolidated interim statement of changes in equity and condensed consolidated interim statement of cash flows for the six-month period then ended, and a summary of significant accounting policies and other explanatory notes. Management is responsible for the preparation and presentation of these condensed consolidated interim financial statements in accordance with International Accounting Standard 34, “Interim Financial Reporting” (“IAS 34”) that is endorsed in the Kingdom of Saudi Arabia. Our responsibility is to express a conclusion on these condensed consolidated interim financial statements based on our review.
Auditors responsibilities for audit of financial statements	Scope of Review We conducted our review in accordance with International Standard on Review Engagements 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” that is endorsed in the Kingdom of Saudi Arabia. A review of interim financial information consists of making inquiries, primarily of the persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing (“ISAs”) that are endorsed in the Kingdom of Saudi Arabia and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
Date of signing audit report by auditor	2023-07-22

Start Date	2023-01-01	2022-01-01	2022-01-01
End Date	2023-06-30	2022-06-30	2022-12-31
Statement of financial position [abstract]
Assets [abstract]
Current assets [abstract]
Bank balances and cash	1,995,479,405	158,942,777	2,118,826,096
Trade accounts receivable	102,584,279	80,369,228	64,348,393
Prepayments	147,356,914	109,306,720	116,105,444
Investments	266,878,762	2,508,185,691	618,569,219
Clearing participant financial assets	3,810,643,393	4,028,652,670	4,060,678,204
Total	6,322,942,753	6,885,457,086	6,978,527,356
Total current assets	6,322,942,753	6,885,457,086	6,978,527,356
Non-current assets [abstract]
Property, plant and equipment	125,829,339	51,824,406	110,404,115
Goodwill	63,053,593	0	0
Intangible assets other than goodwill, net	253,776,477	158,838,106	139,298,385
Investments in associates and joint ventures	399,753,632	373,220,618	400,697,523
Investment	391,532,005	55,494,539	55,809,077
Right-of-use assets	196,171,395	11,816,355	5,310,445
Total non-current assets	1,430,116,441	651,194,024	711,519,545
Total assets	7,753,059,194	7,536,651,110	7,690,046,901
Liabilities and equity [abstract]
Liabilities [abstract]
Current liabilities [abstract]
Current portion of long term loans	11,293,929	0	0
Trade accounts payables	202,447,745	11,696,954	30,928,875
Accrued expenses	218,439,073	226,597,698	264,771,975
Finance lease, current		5,708,066
Zakat payable	34,869,015	36,988,625	67,221,868
Deferred revenue, current	77,950,007	58,997,670	16,722,361
Balance due to Capital Market Authority (CMA)	56,448,735	58,619,375	19,375,330
Clearing participant financial liabilities	3,746,172,891	4,026,450,225	4,031,775,573
Total	4,347,621,395	4,425,058,613	4,430,795,982
Total current liabilities	4,347,621,395	4,425,058,613	4,430,795,982
Non-current liabilities [abstract]
Debt securities, term loans, borrowings and sukuks in issue	4,965,996	0	0
Employees' terminal benefits	85,551,989	100,847,285	79,561,092
Finance leases, non-current	162,074,522	0	0
Non-controlling interest put option	169,531,148	0	0
Total non-current liabilities	422,123,655	100,847,285	79,561,092
Total liabilities	4,769,745,050	4,525,905,898	4,510,357,074
Equity [abstract]
Shareholder's equity [abstract]
Share capital	1,200,000,000	1,200,000,000	1,200,000,000
Statutory Reserve	360,000,000	360,000,000	360,000,000
Retained earnings (accumulated losses)	1,538,498,433	1,450,745,212	1,619,689,827
Other reserves [abstract]
Miscellaneous other reserves	-169,531,148	0	0
Total other reserves	-169,531,148	0	0
Equity attributable to owners of parent	2,928,967,285	3,010,745,212	3,179,689,827
Non-controlling interests	54,346,859	0	0
Total equity	2,983,314,144	3,010,745,212	3,179,689,827
Total liabilities and equity	7,753,059,194	7,536,651,110	7,690,046,901

Start Date	2023-04-01	2022-04-01	2023-01-01	2022-01-01
End Date	2023-06-30	2022-06-30	2023-06-30	2022-06-30
Statement of income [abstract]
Profit (loss) [abstract]
Continuing operations [abstract]
Operating profit (loss) [abstract]
Operating income [abstract]
Gross profit (loss) [abstract]
Revenue	252,036,040	298,112,221	463,287,149	592,061,213
Cost of sales	99,584,480	100,365,610	200,962,050	185,476,231
Gross profit (loss)	152,451,560	197,746,611	262,325,099	406,584,982
Total operating income	152,451,560	197,746,611	262,325,099	406,584,982
Operating expenses [abstract]
General and administrative expenses	68,572,555	58,121,375	125,071,839	110,778,531
Reversal (allowance) for expected credit losses	-30,983	1,344,548	2,072,485	3,504,831
Total operating expenses	68,541,572	59,465,923	127,144,324	114,283,362
Operating profit (loss)	83,909,988	138,280,688	135,180,775	292,301,620
Finance costs	1,148,532	765,364	2,182,826	1,252,427
Share of profit (loss) of joint ventures and associates	-12,532,111	-800,370	-21,833,011	-2,395,467
Other income (expenses), net	327,849	2,836,749	1,954,162	2,836,951
Reversal of impairment in investment in associates	0	0	20,889,120	0
Investment income	46,757,508	14,352,330	92,314,250	24,270,798
Profit (loss) before zakat and income tax from continuing operations	117,314,702	153,904,033	226,322,470	315,761,475
Zakat expenses on continuing operations for period	11,418,249	16,234,861	29,643,532	37,457,169
Profit (loss) for period from continuing operations	105,896,453	137,669,172	196,678,938	278,304,306
Profit (loss) for period	105,896,453	137,669,172	196,678,938	278,304,306
Profit (loss), attributable to [abstract]
Profit (loss), attributable to equity holders of parent company	105,226,123	137,669,172	196,008,608	278,304,306
Profit (loss), attributable to non-controlling interests	670,330	0	670,330	0
Earnings per share [abstract]
Basic earnings (loss) per share [abstract]
Basic earnings (loss) per share from continuing operations	0.88	1.15	1.63	2.32
Total basic earnings (loss) per share	0.88	1.15	1.63	2.32
Diluted earnings (loss) per share [abstract]
Diluted earnings (loss) per share from continuing operations	0.88	1.15	1.63	2.32
Total diluted earnings (loss) per share	0.88	1.15	1.63	2.32
Weighted average number of equity shares outstanding	120000000	120000000	120000000	120000000

Start Date	2023-04-01	2022-04-01	2023-01-01	2022-01-01
End Date	2023-06-30	2022-06-30	2023-06-30	2022-06-30
Statement of other comprehensive income, before tax [abstract]
Statement of comprehensive income [abstract]
Profit (loss) for period	105,896,453	137,669,172	196,678,938	278,304,306
Total comprehensive income (loss) for period	105,896,453	137,669,172	196,678,938	278,304,306
Total comprehensive income (loss) attributable to [abstract]
Total comprehensive income (loss), attributable to equity holders of parent	105,226,123	137,669,172	196,008,608	278,304,306
Total comprehensive income (loss), attributable to non-controlling interests	670,330	0	670,330	0

Start Date	2023-01-01	2022-01-01
End Date	2023-06-30	2022-06-30
Statement of cash flows, indirect method [abstract]
Statement of cash flows [abstract]
Cash flows from (used in) operating activities [abstract]
Profit (loss) before zakat and income tax [abstract]
Profit (loss) before zakat and income tax from continuing operations	226,322,470	315,761,475
Profit (loss) for period before zakat and income tax	226,322,470	315,761,475
Adjustments to reconcile profit (loss) before tax to net cash flows [abstract]
Adjustments for finance costs	114,238	95,170
Adjustments for impairment loss (reversal of impairment loss) recognized in statement of Income	2,072,485	3,504,831
Adjustment for provision of employees' terminal benefit	6,745,624	6,189,478
Adjustments for share of profit of an associate and joint venture	21,833,011	2,395,467
Depreciation and amortization	35,993,732	30,323,821
Realised gain on sale of investments	-4,518,980	-2,722,680
Unrealised gain on investments	-2,386,510	-16,237,164
Dividend income	-616,578	-2,888,263
Commission income	-84,792,182	-2,422,691
Reversal impairment in investment in associates	-20,889,120	0
Total adjustments to reconcile profit (loss) before tax to net cash flows	-46,444,280	18,237,969
Operating cash flow before working capital changes	179,878,190	333,999,444
Adjustments for working capital changes [abstract]
Adjustments for decrease (increase) in trade accounts receivable, net	6,953,141	-23,358,756
Adjustments for decrease (increase) in prepayment	-30,028,256	-1,247,101
Adjustments for increase (decrease) in trade accounts payable	163,417,267	4,911,244
Adjustments for increase (decrease) in advances from customers	51,301,802	55,782,768
Adjustments for increase (decrease) in accrued expenses	-56,651,560	-9,487,376
Balance due to Capital Market Authority	37,073,405	36,338,532
Clearing participant financial liability	-285,602,682	4,008,436,876
Clearing participant financial asset	279,751,456	-4,010,035,186
Net increase (decrease) due to working capital changes	166,214,573	61,341,001
Net cash flows from (used in) operations	346,092,763	395,340,445
Other inflows (outflows) of cash, classified as operating activities [abstract]
Zakat paid, classified as operating activities	67,139,039	67,132,242
Other inflows (outflows) of cash, classified as operating activities	-4,038,939	-2,218,378
Total other inflows (outflows) of cash, classified as operating activities	-71,177,978	-69,350,620
Net cash flows from (used in) operating activities	274,914,785	325,989,825
Cash flows from (used in) investing activities [abstract]
Purchase of property, plant and equipment	37,273,211	32,392,137
Purchase of financial assets	560,037,727	619,557,355
Proceeds from sale of financial assets	583,381,005	762,749,895
Payment for acquisition of associates and joint ventures	108,512,091
Dividends received, classified as investing activities	127,762	2,891,887
Interest received, classified as investing activities	54,418,639	700,501
Net cash flows from (used in) investing activities	-67,895,623	114,392,791
Cash flows from (used in) financing activities [abstract]
Repayment of debt securities, term loans, borrowings, sukuks and murabahas	3,071,904
Repayments of finance lease liabilities	50,093,947	7,637,297
Dividends paid (other than to non-controlling interest), classified as financing activities	277,200,002	360,000,000
Net cash flows from (used in) financing activities	-330,365,853	-367,637,297
Increase (decrease) in cash and cash equivalents before effect of exchange rate changes	-123,346,691	72,745,319
Net increase (decrease) in cash and cash equivalents	-123,346,691	72,745,319
Cash and cash equivalents at beginning of period	2,118,826,096	86,197,458
Cash and cash equivalents at end of period	1,995,479,405	158,942,777

[400100] Notes forming part of accounts

English [member]

Note No.

Start Date

2023-04-01

End Date

2023-06-30

Notes forming part of accounts [line items]

Disclosure of notes and other explanatory information [text block]

Disclosure of general information about reporting entity [abstract]

Disclosure of general information about reporting entity [text block]

GENERAL

Saudi Tadawul Group Holding Company (formerly “Saudi Stock Exchange Company”) (the “Company”, “Parent”) is a Saudi joint stock company registered in the Kingdom of Saudi Arabia under Commercial Registration number 1010241733 dated 2/12/1428 H (corresponding to 12 December 2007). The Company was established by the Royal Decree no. M/15 dated 01/03/1428 H (corresponding to 20 March 2007) and the Ministry of Commerce resolution no. 320/k dated 1/12/1428 H (corresponding to 11 December 2007).

On 1 June 2021, the Company announced its restructuring which resulted in transforming the Saudi Stock Exchange Company (Tadawul) into a holding company under the name of Saudi Tadawul Group Holding Company, a parent company of four wholly owned subsidiaries; Saudi Exchange Company (Exchange), Securities Clearing Center Company (Muqassa), the Securities Depository Center Company (Edaa), and Tadawul Advance Solution Company (Wamid). The details of these subsidiaries are given in note 1.1. From 1 June 2021, the operations of the Company, that included listing, trading and dissemination of securities information were transferred to Exchange.

On 7 May 2023, 51% shareholding in Direct Financial Network Company (DFN) was acquired by the company through one of its subsidiary (Wamid) refer note 1.1, 38 for details.

The Company was wholly owned by the Government of the Kingdom of Saudi Arabia (the “Government”) as ultimate controlling party through the Public Investment Fund (“PIF”). On 8 December, 2021, the Company completed its Initial Public Offering (“IPO”) and its ordinary shares were listed on the Saudi Stock Exchange. In connection with the IPO, the Government through PIF sold 30% of their stake representing 36 million ordinary shares. On 13 November 2022, PIF sold an additional 10% of their stake representing 12 million ordinary shares. Accordingly, PIF now holds 60% (31 December 2022: 60%) of the share capital. As at 30 June 2023, the authorized, issued and fully paid-up share capital of the Company is SAR 1,200 million (31 December 2022: SAR 1,200 million) divided into 120 million shares (31 December 2022: 120 million shares) of SAR 10 each.

These consolidated financial statements comprise the financial statements of the Company and its subsidiaries (collectively referred to as “the Group”).

The Company’s main activities, after becoming a holding company, are managing and supporting subsidiaries or participating in the management of other companies in which it owns shares, investing its funds in shares and other securities, owning real estate and other properties in connection with its businesses, granting loans, guarantees and financing to its subsidiaries, and owning and leasing industrial property rights to its subsidiaries or other companies.

The Group’s main activities through dedicated subsidiaries (given in note 1.1) is to provide a listing service, create and manage the mechanisms of trading of securities, providing depository and registration services for securities ownership, clearing of securities trades, dissemination of securities information and engage in any related other activity to achieve the objectives as defined in the Capital Market Law.

The Company’s registered office address is as follows:

6897 King Fahd Road - Al Olaya

Unit Number: 15

Riyadh 12211-3388

Kingdom of Saudi Arabia

Disclosure of information about major activities of reporting entity [text block]

Disclosure of other general disclosures about reporting entity [text block]

GENERAL (CONTINUED)

1. Details of the Company’s subsidiaries:

Name of subsidiaries

Country of incorporation and legal status

Commercial registration dated

Business activity

Ownership, direct and effective

Paid up

share capital

June

2023

December 2022

Securities Depository Center Company (“Edaa”)	Kingdom of Saudi Arabia, Closed Saudi Joint Stock Company	27/11/1437 H (corresponding to 30 August 2016 G)	Depository and registration of securities	100%	100%	400,000,000
Securities Clearing Center Company (“Muqassa”)	Kingdom of Saudi Arabia, Closed Saudi Joint Stock Company	02/06/1439 H (corresponding to 18 February 2018 G)	Clearing services of securities	100%	100%	600,000,000
Tadawul Advance Solution Company (“Wamid”)	Kingdom of Saudi Arabia, Closed Saudi Joint Stock Company	11/02/1442 H (corresponding to 28 September 2020 G)	Financial technology solutions, innovative capital market solutions for stakeholders	100%	100%	75,000,000
Saudi Exchange Company (“Exchange”)	Kingdom of Saudi Arabia, Closed Saudi Joint Stock Company	17/08/1442 H (corresponding to 31 March 2021G)	Listing and trading of securities, market information dissemination	100%	100%	600,000,000
Direct Financial Network Company (DFN) (Refer Note 4 and 38)	Kingdom of Saudi Arabia, Saudi Limited Liability Company	16/09/1426 H (corresponding to 19 October 2005 )	Develops financial technology and financial content for stakeholders	51%	-	500,000

1. Details of the Company’s associates:

Name of associates

Country of incorporation and legal status

Commercial registration dated

Business activities

Ownership, direct and effective

Paid up

share capital

June

2023

December 2022

Tadawul Real Estate Company

(“TREC”)

Kingdom of Saudi Arabia, Limited Liability Company

22/02/1433 H (corresponding to 17 January 2012 G)

Buying, selling, renting, managing and operating real estate facilities

33.12%

1,280,000,000

Regional Voluntary Carbon Market Company (“RVCM”)

Kingdom of Saudi Arabia, Limited Liability Company

28/03/1444 H (corresponding to 24 October 2022 G)

Active market and Auction for Carbon Credits

20%

175,000,000

Disclosure of major shareholders of reporting entity [text block]

Disclosure of basis of preparation of financial statements [abstract]

Disclosure of basis of preparation of financial statements [text block]

BASIS OF PREPARATION

2.1 Statement of compliance

These interim condensed consolidated interim financial statements for the period ended 30 June 2023 have been prepared in compliance with International Accounting Standard (“IAS”) 34 “Interim Financial Reporting” as endorsed in the Kingdom of Saudi Arabia, other standards and pronouncements issued by the Saudi Organization for Chartered and Professional Accountants (“SOCPA”) and in compliance with the provisions of the Regulations for Companies in the Kingdom of Saudi Arabia and the by-laws of the Company. The accounting policies in these condensed consolidated interim financial statements are consistent with those in the Group’s annual consolidated financial statements for the year ended 31 December 2022 except adoption of new standards and amendments to standards effective 1 January 2023 and accounting policies listed in Note 4.

These condensed consolidated interim financial statements do not include all information and disclosures required for a complete set of financial statements and should be read in conjunction with the Group’s last annual consolidated financial statements for the year ended 31 December, 2022. In addition, results for the six-month periods ended 30 June 2023 are not necessarily indicative of the results that may be expected for the financial year ending 31 December 2023.

2.2 Basis of measurement

These condensed consolidated interim financial statements have been prepared on a historical cost basis except for financial assets measured at fair value through profit or loss and put option liability which is discounted to their present value.

2.3 Functional and presentation currency

These condensed consolidated interim financial statements are presented in Saudi Arabian Riyals (“SAR”), which is the functional and presentational currency of the Group. All amounts have been rounded to the nearest SAR.

2.4 Critical accounting estimates and judgments

In preparing these condensed consolidated interim financial statements, management has made judgements and estimates that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expense. Actual results may differ from these estimates.

The significant judgements made by management in applying the Group’s accounting policies and the key sources of estimation uncertainty were the same as those described in the last annual consolidated financial statements for the year ended December 31, 2022.

Disclosure of basis of consolidation of financial statements [text block]

BASIS OF CONSOLIDATION

These condensed consolidated interim financial statements comprise the financial statements of Saudi Tadawul Group Holding Company and its subsidiaries (collectively referred to as “the Group”). Control is achieved when the Group is exposed to or has rights to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Specifically, the Group controls an investee if and only if the Group has:

power over the investee (i.e. existing rights that give it the current ability to direct the relevant activities of the investee);
exposure, or rights, to variable returns from its involvement with the investee; and
the ability to use its power over the investee to affect its returns.

Generally, there is a presumption that a majority of voting rights result in control. To support this presumption and when the Group has less than a majority of the voting or similar rights of an investee, the Group considers all relevant facts and circumstances in assessing whether it has power over an investee, including:

the contractual arrangement with the other vote holders of the investee;
rights arising from other contractual arrangements; and
the Group’s voting rights and potential voting rights.

The Group re-assesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control. Consolidation of a subsidiary begins when the Group obtains control over the subsidiary and ceases when the Group loses control of the subsidiary. Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during the period are included in the condensed consolidated interim financial statements from the date the Group obtains control until the date the Group ceases to control the subsidiary.

BASIS OF CONSOLIDATION (CONTINUED)

Profit or loss and each component of other comprehensive income (OCI) are attributed to the equity holders of the parent of the Group and to the non-controlling interests, even if this results in the non-controlling interests having a deficit balance. When necessary, adjustments are made to the condensed consolidated interim financial statements of subsidiaries to bring their accounting policies into line with the Group’s accounting policies. All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Group are eliminated in full on consolidation.

A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction. If the Group losses control over a subsidiary, it derecognises the related assets (including goodwill), liabilities, non-controlling interest and other components of equity while any resultant gain or loss is recognised in the consolidated statement of income. Any investment retained is recognised at fair value.

Disclosure of new and amended standards and interpretations [text block]

NEW STANDARDS AND AMENDMENTS ISSUED

The accounting policies adopted in the preparation of the interim condensed consolidated financial statements are consistent with those followed in the preparation of the Group’s annual consolidated financial statements for the year ended 31 December 2022, and the adoption of new standards effective as of 1 January 2023. The Group has not early adopted any standard, interpretation or amendment that has been issued but is not yet effective. The International Accounting Standard Board (IASB) has issued following accounting standards, amendments, which were effective from periods on or after January 1, 2023. The management has assessed that the amendments have no significant impact on the Group’s interim condensed financial statements.

IFRS 17, ‘Insurance contracts’ This standard replaces IFRS 4, which permits a wide variety of practices in accounting for insurance contracts.

Narrow scope amendments to IAS 1, Practice statement 2 and IAS 8. The amendments aim to improve accounting policy disclosures and to help users of the financial statements to distinguish between changes in accounting estimates and changes in accounting policies.

Amendment to IAS 12 – deferred tax related to assets and liabilities arising from a single transaction - requires companies to recognise deferred tax on transactions that, on initial recognition, give rise to equal amounts of taxable and deductible temporary differences.

Standards and amendments issued and not yet effective

The new and amended standards and interpretations that are issued, but not yet effective, up to the date of issuance of the Group’s consolidated financial statements are disclosed below. The Group intends to adopt these new and amended standards and interpretations, if applicable, when they become effective.

Effective for annual financial periods beginning on or after	Standard, amendment or interpretation	Summary of requirements
1 January 2024	Amendments to IAS 1, Presentation of financial statements’, on classification of liabilities	These narrow-scope amendments to IAS 1, ‘Presentation of financial statements’, clarify that liabilities are classified as either current or noncurrent, depending on the rights that exist at the end of the reporting period and non-current liabilities with covenants.
1 January 2024	Amendments to IFRS 16 - Lease Liability in a Sale and Leaseback	The amendments require seller-lessee to subsequently measure lease liabilities arising from a leaseback in a way that it does not recognise any amount of the gain or loss that relates to the right of use it retains.
1 January 2024	Amendments to IAS 7 and IFRS 7	Disclosures enhancement for supplier finance arrangements on the entity’s liabilities.
Available for optional adoption/effective date deferred indefinitely	Amendments to IFRS 10 and IAS 28	Sale or contribution of Assets between an Investor and its Associate or Joint Ventures

Disclosure of other notes forming part of accounts [abstract]

Disclosure of bank balances and cash [text block]

CASH AND CASH EQUIVALENTS

	Notes	30 June 2023 (Unaudited)	31 December 2022 (Audited)
Cash at banks – current accounts		208,236,962	49,821,541
Deposit with SAMA	13.1	16,500,000	16,500,000
Time deposits with original maturities equal to or less than three month from the date of acquisition	13.2	1,770,742,443	2,052,504,555
		1,995,479,405	2,118,826,096

13.1 Commission is earned on deposit with SAMA at the prevailing market rates offered by SAMA with maturity of less than three months.

13.2 These time deposits are placed with financial institutions in the Kingdom of Saudi Arabia with original maturities of less than three months. Commission is also earned on these time deposits as per the prevailing market rates.

Disclosure of financial assets [text block]

INVESTMENTS

Investment securities portfolios are summarized as follows:

	Notes	30 June 2023 (Unaudited)	31 December 2022 (Audited)
Non-current
Investments at amortized cost	9.1	391,532,005	55,809,077
		391,532,005	55,809,077
Current
Investments at FVTPL	9.2	266,878,762	618,569,219
		266,878,762	618,569,219

9.1Investments at amortized cost:

This represents investment in Sukuks issued by counterparties in the Kingdom of Saudi Arabia having sound credit ratings. The Sukuks carry an average commission rate of 4.8% per annum as of 30 June 2023 (2022: 3.3%).

The details of these investments are as follow:

	30 June 2023 (Unaudited)	31 December 2022 (Audited)

Investment in Sukuk – Bank Albilad (Credit rating A3)	55,895,475	55,809,283
Investment in Sukuk – Saudi Government Sukuk (2022-03-15 - Credit rating A1)	62,191,543	-
Investment in Sukuk – Saudi Government Sukuk (2020-02-15 - Credit ratingA1)	54,760,481	-
Investment in Sukuk – Saudi Government Sukuk (2018-07-07 - Credit ratingA1)	218,686,017	-
Impairment loss on investments at amortized cost (9.1.1)	(1,511)	(206)
Total	391,532,005	55,809,077

9. INVESTMENTS (CONTINUED)

9.1.1 The movement of the expected credit losses on investments held at amortized cost is summarized as follows:

	30 June 2023 (Unaudited)	31 December 2022 (Audited)

Balance as at 1 January	206	46,862
(Reversal) / charge for the period / year	1,305	(46,656)
Balance at the end of the period / year	1,511	206

Below is the break-up of investment at amortized cost:

30 June 2023

Description	Maturity date	Face value	Classification
Bank Albilad SAR Denominated Tier 2	15 April 2031	55,000,000	Non-current asset
Saudi Government SAR Sukuk (2022-03-15)	17 March 2037	61,317,467	Non-current asset
Saudi Government SAR Sukuk (2020-02-15)	24 February 2035	53,815,777	Non-current asset
Saudi Government SAR Sukuk (2018-07-07)	25 July 2025	215,226,880	Non-current asset

31 December 2022

Description	Maturity date	Face value	Classification
Bank Albilad SAR Denominated Tier 2	15 April 2031	55,000,000	Non-current asset

9.2 Investments at fair value through profit or loss (“FVTPL”)

This represents investments in units of mutual funds registered in the kingdom of Saudi Arabia. The cost and fair value of investments held at FVTPL are as follows:






	30 June 2023 (Unaudited)			31 December 2022 (Audited)

	Cost	Fair value	Cost	Fair value
Money market funds	250,095,911	262,431,540	594,704,109	610,812,003
Real estate funds	15,000,000	4,447,222	20,250,000	7,757,216
Total	265,095,911	266,878,762	614,954,109	618,569,219

Disclosure of trade account receivables [text block]

ACCOUNTS RECEIVABLE

	Notes	30 June 2023 (Unaudited)	31 December 2022 (Audited)
Tarde receivables
- Related parties	32.2	11,253,173	13,558,085
- Others		105,949,963	62,873,954
Less: allowance for expected credit losses	10.1	(28,181,980)	(26,110,800)
		89,021,156	50,321,239
Non-trade receivables
- Related parties	32.2	3,228,866	3,473,121
- Others		10,334,257	10,554,033
		13,563,123	14,027,154
Total		102,584,279	64,348,393

Receivable balances are non-commission bearing and have payment terms ranging from immediate to thirty days.

10.1 The movement in the allowance for expected credit losses is summarized as follows:

	Note	30 June 2023 (Unaudited)	31 December 2022 (Audited)

Balance as at 1 January		26,110,800	25,795,719
Charge for the period / year		2,071,180	315,081
Balance at end of the period / year	34.3	28,181,980	26,110,800

Disclosure of prepayments [text block]

PREPAID EXPENSES AND OTHER CURRENT ASSETS

	Notes	30 June 2023 (Unaudited)	31 December 2022 (Audited)

Advance against purchase of property	11.1	77,500,000	77,500,000
Prepaid insurance expenses		6,228,698	10,997,526
Advances to vendor		19,635,996	8,064,317
Accrued operational revenue		17,253,548	6,589,018
Advance to employees		8,028,311	5,020,765
Other receivables	11.2	18,710,361	7,933,818
Total		147,356,914	116,105,444

11.1 This represents an advance paid to SAMA as partial payment for purchasing part of a property in King Abdullah Financial District, Riyadh, kingdom of Saudi Arabia.

11.2Other receivable balances are non-commission bearing and have payment terms ranging from immediate to thirty days.

Disclosure of other current assets [text block]

CLEARING PARTICIPANT FINANCIAL ASSETS

Financial assets at amortised cost:	Notes	30 June 2023 (Unaudited)	31 December 2022 (Audited)

Deposits with Saudi Central Bank (SAMA)	12.1	1,613,270,455	3,061,369,467
Investment in SAMA Bills	12.2	2,197,372,938	999,308,737
		3,810,643,393	4,060,678,204

12.1 Deposits with Saudi Central Bank (SAMA):

This represents cash collateral received from clearing participants in the form of initial margin, variation margin and default funds for the equity and derivatives markets. Commission is earned on such deposits at the prevailing market rates offered by SAMA. A portion of the commission is recorded as commission income from SAMA deposits in investment income (refer note 28) by the Group and the clearing members’ share of the commission earned is added to their collateral accounts. These funds are not available for use in the operations of the Group.

	30 June 2023 (Unaudited)	31 December 2022 (Audited)

Deposits with SAMA - relating to Equities markets	1,582,024,273	3,030,450,725
Deposits with SAMA - relating to Derivatives markets	31,246,182	30,918,742
	1,613,270,455	3,061,369,467

12.2 Investment in SAMA Bills:

Note

30 June

2023

(Unaudited)

31 December

2022

(Audited)

Investment in SAMA Bills

12.2.1

2,197,372,938

999,308,737

12. CLEARING PARTICIPANT FINANCIAL ASSETS (CONTINUED)

12.2.1 These represent investment in SAMA Bills from deposits received from clearing participants in the form of initial margin, variation margin and default funds for the equity and derivatives markets. Commission is earned on such Bills at the prevailing market rates offered by SAMA. A portion of the commission is recorded as commission income from SAMA Bills in investment income (refer note 28) by the Group and the clearing members’ share of the commission earned is added to their collateral accounts. These funds are not available for use in the operations of the Group.

As of each reporting date, all deposits with SAMA and SAMA Bills are assessed to have low credit risk as these are placed/issued by Government sovereign financial institutions and there has been no history of default with any of the Group’s deposit and investments in bills. Therefore, the probability of default based on forward looking factors and any loss given defaults are considered to be negligible.

Disclosure of investment in joint ventures and associates [text block]

INVESTMENTS IN ASSOCIATES

	Notes	30 June 2023 (Unaudited)	31 December 2022 (Audited)

Investment in Tadawul Real Estate Company (“TREC “)	7.1	367,116,622	365,697,523
Investment in Regional Voluntary Carbon Company (“RVCMC”)	7.2	32,637,010	35,000,000
Total		399,753,632	400,697,523

7.1 Investment in TREC

This represents the Group’s share of investment in TREC, a company incorporated in the Kingdom of Saudi Arabia, where the Company has significant influence through voting rights. As at 30 June 2023, the Group owns 33.12% (31 December 2022: 33.12%) of the share capital of TREC. The main activities of this associate is to develop a commercial office tower in King Abdullah Financial District, Riyadh, where the Group will be headquartered.

During the period ended 30 June 2023, the Group assessed whether there is any indication that an impairment loss recongnised in prior years may no longer exist or may have decreased. Considering the completion of TREC’s rental building “Tadawul Tower” and committed occupancy, the Group carried out an impairment test and estimated the recoverable amount to be more than the carrying amount and reversed impairment amounting to SAR 20.89 million (30 June 2022: Nil).

The Group has recognized its share of loss for the six-month period ended 30 June 2023, based on the management accounts of the associate. Any variance between TREC management accounts and reviewed financial statements are recorded in the preceding period.

The movement in carrying value of investment is as follows:

	Note	For the six-month period ended 30 June 2023 (Unaudited)	For the year ended 31 December 2022 (Audited)

Balance as at 1 January		365,697,523	375,616,085
Reversal of impairment		20,889,120	-
Share of results	32.1	(19,470,021)	(9,918,562)
Balance at end of the period / year		367,116,622	365,697,523

The following table summarizes the financial information of the associate as included in the management accounts:

	30 June 2023 (Unaudited)	31 December 2022 (Audited)
Summarized statement of financial position
Total current assets	246,866,080	32,825,683
Total non-current assets	2,269,358,149	2,282,712,671
Total current liabilities	1,393,592,604	85,461,524
Total non-current liabilities	4,081,207	1,062,846,629
Net assets (100%)	1,118,550,418	1,167,230,201

	For the six-month period ended 30 June 2023 (Unaudited)	For the year ended 31 December 2022 (Audited)
Summarized statement of profit or loss and other comprehensive income
Total revenue	30,272,526	-
Net loss and total comprehensive loss for the period / year	(53,278,751)	(29,983,133)

7. INVESTMENT IN ASSOCIATES (CONTINUED)

7.2 Investment in RVCMC

This represents the Group’s share of investment in RVCMC, a company incorporated in the Kingdom of Saudi Arabia on 25 October 2022. RVCMC offers guidance and resourcing to support businesses and industries in the region as they play their part in the global transition to net zero, ensuring that carbon credit purchases go above and beyond meaningful emission reductions in value chains. The RVCMC’s capital amounts to SAR 500 million (paid up capital SAR 175 million), where PIF holds 80% stake and the Company holds 20% stake. RVCMC is headquartered in Riyadh, Kingdom of Saudi Arabia.

The Group has recognized its share of loss for the six-month period ended 30 June 2023, based on the management accounts of the associate. Any variance between RVCMC management accounts and reviewed financial statements are recorded in the preceding period.

The movement of investment carrying value is as follows:

	Note	For the six-month period ended 30 June 2023 (Unaudited)	For the year ended 31 December 2022 (Audited)

Balance as at 1 January		35,000,000	-
Investments made during the period / year		-	35,000,000
Share of results	32.1	(2,362,990)	-
Balance at end of the period / year		32,637,010	35,000,000

The following table summarizes the financial information of the associate as included in the management accounts:

	30 June 2023 (Unaudited)
Summarized statement of financial position
Total assets (current)	184,967,100
Total liabilities (current)	18,630,196
Net assets (100%)	166,336,904

	For the period 24 October 2022 to 30 June 2023 (Unaudited)
Summarized statement of profit or loss and other comprehensive income
Total revenue	-
Net loss and total comprehensive loss for the period	(12,516,870)

Disclosures of goodwill [text block]

INTANGIBLE ASSETS

Intangible assets, net, comprise of the following components as of period / year end :

	Note	30 June 2023 (Unaudited)	31 December 2022 (Audited)

Software		212,313,070	111,030,467
Capital work-in-progress (CWIP)		41,463,407	28,267,918
Goodwill	38	63,053,593	-
Total		316,830,070	139,298,385

During the period ended 30 June 2023, the Group acquired 51% shareholding of DFN which increased software by SAR 96.65 million and CWIP by SAR 10.03 million at the acquisition date (refer Note 38) and purchase of intangibles of SAR 28.29 million.

Disclosure of intangible assets [text block]

INTANGIBLE ASSETS

Intangible assets, net, comprise of the following components as of period / year end :

	Note	30 June 2023 (Unaudited)	31 December 2022 (Audited)

Software		212,313,070	111,030,467
Capital work-in-progress (CWIP)		41,463,407	28,267,918
Goodwill	38	63,053,593	-
Total		316,830,070	139,298,385

Disclosure of trade account payable [text block]

ACCOUNTS PAYABLE

	Note	30 June 2023 (Unaudited)	31 December 2022 (Audited)
Trade payables:
Others		202,429,098	30,880,997
Related parties	32	18,647	47,878
Total		202,447,745	30,928,875

Payables are non-commission bearing and are settled on terms ranging from immediate to sixty days.

Disclosure of accrued expenses [text block]

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

	Notes	30 June 2023 (Unaudited)	31 December 2022 (Audited)

Accrued employee expenses		67,169,360	115,362,304
Payable for General Organization for Social Insurance		1,972,945	2,079,494
Value added tax (VAT), net		9,637,505	457,531
Board of Directors remuneration payable	32	4,930,500	9,337,500
Accrued supplier expenses:
Related party	32	10,714,017	11,836,063
Others		124,014,746	125,699,083
Total		218,439,073	264,771,975

Other payables and statutory dues are non-commission bearing and are settled on terms ranging from immediate to sixty days.

Disclosure of zakat [text block]

ZAKAT PROVISION

Zakat is charged at the higher of net adjusted income or Zakat base as required by the ZATCA. The key elements of zakat base primarily includes equity components, net income and liabilities reduced by non-current assets as adjusted for zakat purpose.

The movements in zakat provision are as follows:

	30 June 2023 (Unaudited)	31 December 2022 (Audited)

Balance as at 1 January	67,221,868	66,663,698
Provision for Zakat for the period / year
Current period	29,726,361	67,221,868
Prior year under / (over) provision	(82,829)	468,544
Recoverable from MOF	4,325,843	-
	33,969,375	67,690,412
Acquisition of a subsidiary	816,811	-
Zakat paid during the period / year	(67,139,039)	(67,132,242)
Balance at the end of the period / year	34,869,015	67,221,868

The Group has already filed and paid its consolidated Zakat return for the Company and its wholly-owned subsidiaries with ZATCA for year 2022. The Group is subject to Zakat in accordance with the Zakat regulation issued by ZATCA based on Royal Decree 35657 issued on 29/6/1442 effective from 1 January 2020. Zakat assessment for 2020 ,2021 and 2022 is pending finalization.

Disclosure of deferred revenue [text block]

DEFERRED REVENUE

	Note	30 June 2023 (Unaudited)	31 December 2022 (Audited)

Balance as at beginning of the period / year		16,722,361	3,214,902
Acquisition of a subsidiary	38	9,925,844	-
Invoiced during the period / year		174,918,562	209,652,633
Recognised as revenue during the period / year		(123,616,760)	(196,145,174)
Balance at the end of the period / year		77,950,007	16,722,361

Disclosure of dividends [text block]

DIVIDENDS

The Board of Directors of the Company in their meeting on 25 February 2023 recommended the General Assembly which approved the distribution of dividends on 10 May 2023 to the shareholders for the fiscal year ended 31 December 2022 with a total amount of 277.2 million Saudi Riyals, equivalent to 2.31 Saudi Riyals per share representing 23.1% of the share par value, provided that the dividend eligibility shall be to the Shareholders who own the Company’s shares and registered in the Company’s register at the Securities Depository Center Company (Edaa) by the end of the second trading day following the date of the Company’s General Assembly (the “Eligibility Date”), and the date of the dividend distribution shall be within fifteen days from the Eligibility Date. These dividends were distributed accordingly during the period ended 30 June 2023.

The Board of Directors of the Company in their meeting on 5 March 2022 recommended the General Assembly which approved the distribution of dividends on 12 May 2022 to the shareholders for the fiscal year ended 31 December 2021 with a total amount of 360 million Saudi Riyals, equivalent to 3 Saudi Riyals per share representing 30% of the share par value, provided that the dividend eligibility shall be to the Shareholders who own the Company’s shares and registered in the Company’s register at the Securities Depository Center Company (Edaa) by the end of the second trading day following the date of the Company’s General Assembly (the “Eligibility Date”), and the date of the dividend distribution shall be within fifteen days from the Eligibility Date and were distributed accordingly.

Disclosure of other current liabilities [text block]

CLEARING PARTICIPANT FINANCIAL LIABILITIES

Financial liabilities at amortised cost:	Notes	30 June 2023 (Unaudited)	31 December 2022 (Audited)

Collateral from clearing members	19.1	3,741,549,890	4,027,470,603
Members' contribution to clearing house funds	19.2	4,623,001	4,304,970
		3,746,172,891	4,031,775,573

19.1 The deposits from clearing participants represents amounts received from clearing participants as collateral in lieu of initial margin, variation margin and default funds for the equity and derivatives markets. These deposits are subject to commission, a portion of which is shared and included in the clearing participant financial assets.

19.2 This represents a prefunded default arrangement that is composed of assets contributed by clearing members that may be used by the Group in certain circumstances to cover the losses or liquidity pressure resulting from participant defaults.

BALANCE DUE TO CAPITAL MARKET AUTHORITY (CMA)

The Group acts as a collection agent on behalf of CMA where their trading commission share is collected and transferred to them on an agreed mechanism. Such portion is not recognized as Group’s revenue.

Disclosure of employees' terminal benefits [text block]

EMPLOYEES’ END-OF-SERVICE BENEFITS LIABILITY

The movement in employees’ end-of-service benefits is as follows:

	Note	30 June 2023 (Unaudited)	31 December 2022 (Audited)

Balance as at 1 January		79,561,092	96,876,185
Current service cost		4,677,036	10,064,443
Interest cost	29	2,068,588	2,241,385
Amount recognised in profit or loss		6,745,624	12,305,828
Acquisition of a subsidiary	38	3,284,212	-
Re-measurement (gain) / loss recognized in other comprehensive income		-	(22,650,595)
Benefits paid during the period / year		(4,038,939)	(6,970,326)
Balance at the end of the period / year		85,551,989	79,561,092

Disclosure of other non-current liabilities [text block]

NON-CONTROLLING INTEREST PUT OPTION

The Group, through its subsidiary Wamid, acquired 51% of issued share capital of the DFN carrying full voting rights on 7 May 2023 (refer Note 38 for further details). The shareholders’ agreement and put option agreement grants non-controlling interest equity holders in DFN an irrevocable and unconditional right to exercise their put options in respect of the non-controlling interest held in DFN (49% of issued share capital) for cash consideration of SAR 220.5 million by issuing a put notice within 60 days from the put option exercise period. Put option exercise period is earlier of:

the issuance of the audited financial statements of DFN for the year ending 31 December 2026; or
30 June 2027

The Group has recorded the financial liability discounted at present value and corresponding impact in the parent shareholder’s equity (other reserve) for the exercise price.

The movement in the financial liability during the period is as follows:

	30 June 2023 (Unaudited)	31 December 2022 (Audited)

Put option issued on 7 May 2023	167,805,446	-
Change in non-controlling interest put option liability	1,725,702	-
Balance at the end of the period / year	169,531,148	-

Disclosure of statutory reserves [text block]

STATUTORY RESERVE

The shareholder in the extraordinary general assembly held on 17th August 2021 has decided to discontinue setting aside such percentage when said reserve reaches 30% of paid-in capital. The Company has reached the required reserve level. The statutory reserve in the condensed consolidated interim financial statements is the statutory reserve of the Company. This reserve is currently not available for distribution to the shareholders of the Company.

Disclosure of non-controlling interests [text block]

NON-CONTROLLIING INTEREST

	Note	30 June 2023 (Unaudited)	31 December 2022 (Audited)

Acquisition of a subsidiary	38	53,676,529	-
Profit or loss and other comprehensive income for the period attributable to non-controlling interest		670,330	-
Balance at the end of period / year		54,346,859	-

Disclosure of sales [text block]

OPERATING REVENUE

For the three-month

period ended 30 June

For the six-month

period ended 30 June

	2023 (Unaudited)	2022 (Unaudited)	2023 (Unaudited)	2022 (Unaudited)
Revenue recognized over-time

Post trade services	39,557,317	35,220,853	77,554,522	73,770,804
Data and technology services	44,766,563	22,255,153	76,228,217	46,864,970
Listing services	20,869,303	20,667,144	42,390,431	40,919,994
Membership fees	938,624	1,548,629	1,808,187	2,302,223
Derivatives services	300,633	73,687	752,211	345,783
	106,432,440	79,765,466	198,733,568	164,203,774

Revenue recognized at point-in-time

Post trade services	84,433,332	123,572,321	153,451,313	232,674,642
Trading services	59,566,255	88,941,504	109,301,599	187,962,164
Data and technology services	44,750	-	44,750	-
Listing services	1,550,000	5,822,196	1,740,000	7,197,196
Derivatives services	9,263	10,734	15,919	23,437
	145,603,600	218,346,755	264,553,581	427,857,439
Revenue from contracts with customers	252,036,040	298,112,221	463,287,149	592,061,213

The Group acts as a collection agent on behalf of CMA where their trading commission share is collected and transferred to

them on an agreed mechanism. Such portion is not recognized as Group’s revenue.

Disclosure of cost of sales [text block]

OPERATING COSTS

Note

For the three-month

period ended 30 June

For the six-month

period ended 30 June

		2023 (Unaudited)	2022 (Unaudited)	2023 (Unaudited)	2022 (Unaudited)
Salaries and related benefits		40,694,858	38,695,777	80,471,949	71,365,927
CMA fees	26.1	28,500,000	28,500,000	61,000,000	61,000,000
Technology and network		12,594,673	14,184,018	25,646,337	23,026,146
Depreciation and amortization		14,551,444	12,478,170	28,337,175	21,058,000
Consultancy		132,959	3,348,434	440,382	4,418,447
Accommodation and utilities		1,525,556	1,310,912	2,563,226	2,593,214
Others		1,584,990	1,848,299	2,502,981	2,014,497
Total		99,584,480	100,365,610	200,962,050	185,476,231

26.1 This represents fees payable to the CMA in accordance with the details of the Market Institutions Deputy letter no. (17/268/6) dated 18 January 2017 which includes notification of CMA Board resolution, in addition to CMA Board resolution no. (3-2-2019) dated 7 January 2019.

Disclosure of general and administrative expenses [text block]

GENERAL AND ADMINISTRATIVE EXPENSES

For the three-month

period ended 30 June

For the six-month

period ended 30 June

	2023 (Unaudited)	2022 (Unaudited)	2023 (Unaudited)	2022 (Unaudited)
Salaries and related benefits	49,540,001	40,461,575	86,460,475	73,964,102
Technology and network	4,189,956	3,707,967	9,078,918	7,163,866
Depreciation and amortization	3,837,374	5,217,147	7,656,557	9,265,821
Consultancy	2,825,089	1,613,432	4,921,297	2,950,059
Marketing and public relations	3,085,781	3,329,832	6,730,198	8,784,924
Accommodation and utilities	2,467,097	1,619,646	4,133,398	3,472,663
Board of Directors' remuneration	2,513,266	1,768,093	5,098,541	4,142,093
Others	113,991	403,683	992,455	1,035,003
Total	68,572,555	58,121,375	125,071,839	110,778,531

Disclosure of other income, net [text block]

. INVESTMENT INCOME

For the three-month

period ended 30 June

For the six-month

period ended 30 June

	2023 (Unaudited)	2022 (Unaudited)	2023 (Unaudited)	2022 (Unaudited)
Commission income on time deposits	26,629,140	-	50,486,285	-
Realised gain on sale investments, net	542,962	2,569,898	4,518,980	2,722,680
Commission income on SAMA Bills, net	14,116,345	301,959	24,588,475	301,959
Unrealised gain on investments, net	(259,444)	7,868,193	2,386,510	16,237,164
Commission income on SAMA deposits, net	2,558,616	1,207,699	5,128,170	1,245,299
Dividend income	254,194	1,884,392	616,578	2,888,263
Special commission income	237,723	-	237,723	-
Commission income on investment at amortised cost	2,677,972	520,189	4,351,529	875,433
Total	46,757,508	14,352,330	92,314,250	24,270,798

Disclosure of other expenses, net [text block]

FINANCE COSTS

For the three-month

period ended 30 June

For the six-month

period ended 30 June

	2023 (Unaudited)	2022 (Unaudited)	2023 (Unaudited)	2022 (Unaudited)
Finance cost on employees’ end-of-service benefits liabilities	1,034,294	722,514	2,068,588	1,157,257
Finance expense on lease liabilities	-	42,850	-	95,170
Finance charges on borrowings	114,238	-	114,238	-
Total	1,148,532	765,364	2,182,826	1,252,427

Disclosure of earnings per share [text block]

BASIC AND DILUTED EARNINGS PER SHARE

Basic and diluted earnings per share is computed by dividing profit attributable to the ordinary shareholders of the parent company by the weighted average outstanding number of shares for the period ended 30 June 2023, totaling 120 million shares (30 June 2022: 120 million shares).

For the three-month

period ended 30 June

For the six-month

period ended 30 June

	2023 (Unaudited)	2022 (Unaudited)	2023 (Unaudited)	2022 (Unaudited)
Profit attributable to ordinary shareholders of the parent company	105,226,123	137,669,172	196,008,608	278,304,306
Weighted average outstanding number of shares	120,000,000	120,000,000	120,000,000	120,000,000
Earnings per share	0.88	1.15	1.63	2.32

Disclosure of leases [text block]

1. RIGHT-OF-USE ASSETS

	Note	30 June 2023 (Unaudited)	31 December 2022 (Audited)

Balance as at 1 January		5,310,445	7,120,394
Additions		209,124,635	11,201,872
Depreciation charge for the period / year	8.1	(18,263,685)	(13,011,821)
Balance at the end of period / year		196,171,395	5,310,445

RIGHT-OF-USE ASSETS (CONTINUED)

8.1 Deprecation expenses is allocated as follows:

	Notes	For the six-month period ended 30 June 2023 (Unaudited)	For the year ended 31 December 2022 (Audited)

General and administrative expenses		3,783,756	7,812,506
Operating costs		2,655,681	5,199,315
Cost directly attributable to capital work-in-progress under property and equipment	8.2,32.1	11,824,248	-
Total		18,263,685	13,011,821

8.2On 1 March 2023, the Group signed a lease agreement for its new head quarter with TREC (an associate company). Initial lease term is for five years and is renewable at Group’s discretion subject to terms and conditions of the agreement. The Group has been provided grace period and it is being utilized to perform fit-out works at the office premises to bring it to condition for its intended use. Consequently, the depreciation and finance cost are considered by the Group as cost directly attributable in bringing the office premises in condition necessary to be capable of operating in the manner as intended by Group’s management. These cost hence are capitalized and currently recorded as capital work-in-progress under property and equipment.

LEASE LIABILITIES

This represents amount of lease liabilities for the rented offices of the Group. Set out below are carrying amount of lease liabilities and the movements during the period:

	Note	30 June 2023 (Unaudited)	31 December 2022 (Audited)

Balance as at 1 January		-	982,913
Additions		209,124,633	11,201,873
Finance cost	16.1	3,043,836	130,602
Payment		(50,093,947)	(12,315,388)
Balance at the end of period / year		162,074,522	-

16.1 Finance cost incurred for the period ended 30 June 2023 amounting to of SAR 3,043,836 (30 June 2022: Nil) has been included in capital work-in-progress under property and equipment (Refer note 8.2).

Disclosure of related party transactions [text block]

TRANSACTIONS WITH RELATED PARTIES

During the ordinary course of business, the Company enters into transaction with its related parties. These related parties include:

Ultimate controlling party – PIF as explained in Note 1;
Other related parties that include entities which have either common directors with the Company’s BOD and / or owned by Parent and / or have common directors with the BOD of Parent;
Associate companies, refer Note 1.2 for details; and
Key Management that includes the Company’s Board of Directors (BOD) and key executives

32.1 Following are the total amount of transactions that have been entered into during the period with the related parties:

For the six-month

period ended 30 June

	Notes	2023 (Unaudited)	2022 (Unaudited)
PIF
Operating revenue from services rendered		2,535,000	-
Other related parties
Operating revenue from services rendered		134,414,921	169,346,768
Commission income		19,846,220	750,433
Purchase of services (internet , utilities and others)		3,303,296	11,043,956
(Disposals) / purchase of investments at FVTPL		(13,801,775)	(95,989,946)
Associates
Tadawul Real Estate Company – Share of results	7.1	(19,470,021)	(2,395,467)
Depreciation on right-of-use assets	8.1	11,824,248	-
Lease payment	16	50,093,947	-
Finance cost on lease liabilities	16	3,043,836	-
Investment in RVCM – Share of results	7.2	(2,362,990)	-
Key management personnel compensation
Salaries and other short-term benefits		13,393,163	12,587,909
Post-employment benefits		796,524	1,454,864
Board of Directors’ remuneration		5,098,541	4,142,093

Operating revenue from services rendered by the Group to the related parties included services of post trade, trading, listing, data and technology services, derivative and membership. The Company also paid dividends during the year to the shareholder of the Company.

32.2 Following are the outstanding balances arising from related party transactions:

	Notes	30 June 2023 (Unaudited)	31 December 2022 (Audited)
PIF
Accounts receivable	10	-	-
Other related parties
Investments held at FVTPL	9.2	-	13,720,906
Trade receivable	10	11,253,173	13,558,085
Less: ECL allowance	10.1	(466,364)	(780,298)
Non-trade receivable	10	3,228,866	3,473,121
Accounts receivable, net		14,015,675	16,250,908
Accrued expenses and other liabilities	20,22,23	18,883,118	18,102,697
Cash and cash equivalents	13	716,423,169	804,234,649
Clearing participant financial liabilities	19	823,405,856	866,246,957
Associates
Accounts receivable - Tadawul Real Estate Company	10	-	538,071
Key management personnel
Board of Directors remuneration payable	23	4,930,500	9,337,500

Outstanding balances at period / year end arise in normal course of business. These balances are unsecured, commission free and are recoverable / payable on terms ranging from immediate to thirty days.

Disclosure of segments reporting [text block]

SEGMENT INFORMATION

The Group operates solely in the Kingdom of Saudi Arabia. For management purposes, the Group is organized into business segments based on services provided. The reportable segments of the Group are:

Capital markets

The activities of this segment include trading commission for securities and derivative markets, admission fees from initial listing and further capital raises, annual fees charged for securities traded on the Group’s markets and fees from secondary market services.

Post-trade

The activities of this segment include registration of investment portfolios in the filing and settlement system, register and file its ownership, transfer, settlement, clearing and safekeeping its ownership, registering any restriction of ownership on the file securities, and associate with members of the market and settlement agents to filing and settlement system. Furthermore, linking and managing records of securities issuers, organizing general assemblies for issuers including remote voting service for such assemblies, providing reports, notifications and information in addition to providing any other service relating to its activities according to financial market regulations.

Data and technology services

The activities of this segment are to grow the business of Data and Technology Services which includes offering high-quality real-time trading data, reference data, market indices, financial information to the financial community, financial technology solutions, research & development in the field of engineering & technology and innovative capital market solutions for stakeholders. In addition, this segment also develops financial technology and financial content for stakeholders to utilize as data and technology services.

Corporate

Corporate manages future corporate development and controls all treasury related functions. All investments are incubated within this category, which also comprises managing strategy for business development, legal, finance, operations, information technology, human resources and customer relations management.

33.1Financial information relating to operating segments:

For six-months period ended

30 June 2023 (Unaudited)	Capital markets	Data and technology services	Post- trade	Corporate	Total

Segment revenue	154,928,260	76,272,967	232,085,922	-	463,287,149
Segment costs excluding depreciation and amortization	(85,990,271)	(39,324,501)	(152,180,662)	(14,617,208)	(292,112,642)
Depreciation and amortization	(9,142,727)	(3,168,844)	(17,096,543)	(6,585,618)	(35,993,732)
Investment income	-	-	-	92,314,250	92,314,250
Reversal of impairment in investment in associates	-	-	-	20,889,120	20,889,120
Share of results of associates	-	-	-	(21,833,011)	(21,833,011)
Finance costs	-	-	-	(2,182,826)	(2,182,826)
Other income, net	-	-	-	1,954,162	1,954,162
Profit before Zakat	59,795,262	33,779,622	62,808,717	69,938,869	226,322,470
Zakat expense	-	-	-	(29,643,532)	(29,643,532)
Profit after Zakat	59,795,262	33,779,622	62,808,717	40,295,337	196,678,938
Net profit for the period is attributable to:
Ordinary shareholders of the parent company	59,795,262	33,109,292	62,808,717	40,295,337	196,008,608
Non-controlling interest	-	670,330	-	-	670,330
	59,795,262	33,779,622	62,808,717	40,295,337	196,678,938

33. SEGMENT INFORMATION (CONTINUED)

33.1 Financial information relating to operating segments (continued):

30 June 2022 (Unaudited)	Capital markets	Data and technology services	Post- trade	Corporate	Total

Segment revenue	237,140,266	46,864,970	308,055,977	-	592,061,213
Segment cost excluding depreciation and amortization	(78,350,519)	(21,738,924)	(160,438,651)	(8,907,678)	(269,435,772)
Depreciation and amortization	(11,271,320)	(1,530,904)	(13,841,687)	(3,679,910)	(30,323,821)
Investment income	-	-	-	24,270,798	24,270,798
Share of results of associates	-	-	-	(2,395,467)	(2,395,467)
Finance costs	-	-	-	(1,252,427)	(1,252,427)
Other income, net	-	-	-	2,836,951	2,836,951
Segment profit before Zakat	147,518,427	23,595,142	133,775,639	10,872,267	315,761,475
Zakat expense	-	-	-	(37,457,169)	(37,457,169)
Segment profit after Zakat	147,518,427	23,595,142	133,775,639	(26,584,902)	278,304,306
Net profit for the period is attributable to:
Ordinary shareholders of the parent company	147,518,427	23,595,142	133,775,639	(26,584,902)	278,304,306
Non-controlling interest	-	-	-	-	-
	147,518,427	23,595,142	133,775,639	(26,584,902)	278,304,306

For three-months period ended:

30 June 2023 (Unaudited)	Capital markets	Data and technology services	Post- trade	Corporate	Total

Segment revenue	82,661,518	44,811,313	124,563,209	-	252,036,040
Segment costs excluding depreciation and amortization	(43,818,188)	(23,873,962)	(72,093,904)	(9,951,180)	(149,737,234)
Depreciation and amortization	(4,614,534)	(2,266,185)	(8,403,344)	(3,104,755)	(18,388,818)
Investment income	-	-	-	46,757,508	46,757,508
Share of results of associates	-	-	-	(12,532,111)	(12,532,111)
Finance costs	-	-	-	(1,148,532)	(1,148,532)
Other income, net	-	-	-	327,849	327,849
Profit before Zakat	34,228,796	18,671,166	44,065,961	20,348,779	117,314,702
Zakat expense	-	-	-	(11,418,249)	(11,418,249)
Profit after Zakat	34,228,796	18,671,166	44,065,961	8,930,530	105,896,453
Net profit for the period is attributable to:
Ordinary shareholders of the parent company	34,228,796	18,000,836	44,065,961	8,930,530	105,226,123
Non-controlling interest	-	670,330	-	-	670,330
	34,228,796	18,671,166	44,065,961	8,930,530	105,896,453

33. SEGMENT INFORMATION (CONTINUED)

33.1 Financial information relating to operating segments (continued):

For three-months period ended (continued):

30 June 2022 (Unaudited)	Capital markets	Data and technology services	Post- trade	Corporate	Total

Segment revenue	115,859,962	22,255,153	159,997,106	-	298,112,221
Segment cost excluding depreciation and amortization	(40,859,327)	(11,196,248)	(84,581,020)	(5,499,622)	(142,136,217)
Depreciation and amortization	(6,937,041)	(932,889)	(8,647,979)	(1,177,407)	(17,695,316)
Investment income	-	-	-	14,352,330	14,352,330
Share of results of associates	-	-	-	(800,370)	(800,370)
Finance costs	-	-	-	(765,364)	(765,364)
Other income, net	-	-	-	2,836,749	2,836,749
Segment profit before Zakat	68,063,594	10,126,016	66,768,107	8,946,316	153,904,033
Zakat expense	-	-	-	(16,234,861)	(16,234,861)
Segment profit after Zakat	68,063,594	10,126,016	66,768,107	(7,288,545)	137,669,172
Net profit for the period is attributable to:					-
Ordinary shareholders of the parent company	68,063,594	10,126,016	66,768,107	(7,288,545)	137,669,172
Non-controlling interest	-	-	-	-	-
	68,063,594	10,126,016	66,768,107	(7,288,545)	137,669,172

33.2 Operating revenue by operating segments

For six-months period ended:

30 June 2023 (Unaudited)	Capital markets	Data and technology services	Post- trade	Total

Revenue recognised at a point-in-time
Trading services	109,301,599	-	-	109,301,599
Data & Technology Services	-	44,750	-	44,750
Post trade services	-	-	153,451,313	153,451,313
Listing services	1,740,000	-	-	1,740,000
Derivatives market	5,593	-	10,326	15,919

Revenue recognised over-time
Data and technology services	-	76,228,217	-	76,228,217
Post trade services	-	-	77,554,522	77,554,522
Listing services	42,390,431	-	-	42,390,431
Derivatives market	674,012	-	78,199	752,211
Membership fees	816,625	-	991,562	1,808,187
Consolidated revenue	154,928,260	76,272,967	232,085,922	463,287,149

33. SEGMENT INFORMATION (CONTINUED)

For six-months period ended (continued):

30 June 2022 (Unaudited)	Capital markets	Data and technology services	Post- trade	Total

Revenue recognised at a point-in-time
Trading services	187,962,164	-	-	187,962,164
Post trade services	-	-	232,674,642	232,674,642
Listing services	7,197,196	-	-	7,197,196
Derivatives markets	8,598	-	14,839	23,437

Revenue recognised over-time
Data and technology services	-	46,864,970	-	46,864,970
Post trade services	-	-	73,770,804	73,770,804
Listing services	40,919,994	-	-	40,919,994
Derivatives markets	255,783	-	90,000	345,783
Membership fees	796,531	-	1,505,692	2,302,223
Consolidated revenue	237,140,266	46,864,970	308,055,977	592,061,213

For three-months period ended:

30 June 2023 (Unaudited)	Capital markets	Data and technology services	Post- trade	Total

Revenue recognised at a point-in-time
Trading services	59,566,255	-	-	59,566,255
Data & Technology Services	-	44,750	-	44,750
Post trade services	-	-	84,433,332	84,433,332
Listing services	1,550,000	-	-	1,550,000
Derivatives market	2,944	-	6,319	9,263

Revenue recognised over-time
Data and technology services	-	44,766,563	-	44,766,563
Post trade services	-	-	39,557,317	39,557,317
Listing services<

[100010] Filing information	[200100] Independent auditors report	[300200] Statement of financial position, current/ non-current
[300400] Statement of income, function of expense	[300500] Statement of other comprehensive income, before tax	[300600] Statement of changes in equity
[300700] Statement of cash flows, indirect method	[400100] Notes forming part of accounts