Introduction:
Osool & Bakheet Investment Company announces that it has received a notice from the executive management of one of its investee companies, Creative Future for Digital Brokerage Company, stating that the procedures for renewing its license with the competent supervisory authority (the Saudi Central Bank) have not been completed.
Announcement Details:
On 09/03/2026, Osool & Bakheet Investment Company received a notice from the executive management of an investee company classified as a financial investment at fair value through profit or loss, including a statement from the Saudi Central Bank that the company had not fulfilled the requirements for license renewal. Accordingly, the investee company will temporarily suspend providing services to its clients until the regulatory requirements necessary for license renewal are completed.
The investee company is currently working to fulfill the required requirements and coordinate with the relevant supervisory authority, in a manner that ensures the resumption of services in accordance with the applicable regulatory framework.
Osool & Bakheet will disclose any material developments related to this matter as soon as they become available.
Financial Impact:
At this stage, the financial impact resulting from the temporary suspension of the investee company’s services cannot be determined precisely, as it depends on the duration of the suspension and the completion of the license renewal requirements with the competent supervisory authority. Given that Osool & Bakheet’s investment in this company is classified as a financial investment at fair value through profit or loss, any potential financial impact, if any, will be reflected through changes in the fair value of the investment upon conducting periodic valuations in accordance with the relevant accounting standards.
Any potential impact, if any, may also be reflected in the financial results for the current financial period, the results of which have not yet been issued. The Company will disclose any material developments in this regard in due course.
