For the year ended 31 December 2020
(Saudi Arabian Riyals)
| Notes | 2020 | 2019 | |
| Cash flows from operating activities | |||
| Profit before zakat | 584,080,144 | 153,293,786 | |
| Adjustments to reconcile net profit for the period to net cash generated from operating activities: | |||
| Depreciation and amortization | 23, 24 | 48,213,576 | 51,272,542 |
| Charge for credit losses on accounts receivable | 9 | 19,735,859 | 148,494 |
| Reversal for impairment on investments held at amortized cost | 7 | (1,076,063) | (342,923) |
| Provision for employees' end-of-service benefits | 15 | 11,300,262 | 10,966,445 |
| Realised gain on sale of investments | 25 | (15,751,508) | (5,425,998) |
| Unrealised gain on investments | 25 | (8,817,609) | (50,234,343) |
| Share of loss in equity-accounted investee | 6 | 2,101,685 | 1,610,095 |
| Interest expense on lease liability | 253,057 | 149,208 | |
| Reversal of provision for specific obligation | - | (17,430,875) | |
| Changes in operating assets and liabilities: | |||
| Deposits with Saudi Arabian Monitory Authority | (32,177,558) | - | |
| Accounts receivable | (35,920,798) | (2,734,030) | |
| Prepaid expenses and other current assets | 569,165 | (70,881,119) | |
| Margin deposits from clearing participants | 19,030,340 | - | |
| Members' contribution to clearing house funds | 3,147,217 | - | |
| Accounts payable | (10,069,195) | 18,115,824 | |
| Balance due to Capital Market Authority | 10,428,584 | (34,330,800) | |
| Deferred revenue | 88,497 | (1,598,140) | |
| Accrued expenses and other current liabilities | 41,597,951 | 15,881,400 | |
| Cash generated from operations | 636,733,606 | 68,459,566 | |
| Employees' end-of-service benefits paid | 15 | (2,872,352) | (14,279,612) |
| Net cash generated from operating activities | 633,861,254 | 54,179,954 | |
| Cash flows from investing activities | |||
| Purchase of investments | (2,558,201,111) | (1,219,357,541) | |
| Additional investment in equity-accounted investee | (210,000,000) | - | |
| Proceeds from disposal of investments | 2,065,902,889 | 1,306,182,897 | |
| Proceeds from maturity of sukuk | 75,000,000 | - | |
| Purchase of intangible assets and property and equipment | (45,676,373) | (94,111,745) | |
| Net cash used in investing activities | (672,974,595) | (7,286,389) | |
| Cash flows from financing activities | |||
| Dividends paid | 33 | (120,000,000) | (120,000,000) |
| Lease rentals paid | (12,576,150) | (21,584,616) | |
| Net cash used in financing activities | (132,576,150) | (141,584,616) | |
| Net increase/(decrease) in cash and cash equivalents | (171,689,491) | (94,691,051) | |
| Cash and cash equivalents at the beginning of the period | 268,487,867 | 363,178,918 | |
| Cash and cash equivalents at end of the period | 12 | 96,798,376 | 268,487,867 |
| Non-cash supplemental information | |||
| Conversion of sukuk investment to equity-accounted investee | 6 | 130,000,000 | - |
| Dividend income capitalized | 11,367,239 | 12,782,200 |