Element List	Explanation
Introduction	With reference to Al Moammar Information Systems Company (MIS) announcement published on Saudi Exchange (Tadawul) regarding the latest developments of its announcement dated 27/08/1444H (corresponding to 19/03/2023G), Al Moammar Information Systems Company (MIS) announces the latest developments concerning its previous announcement on the Board of Directors’ approval to establish a wholly owned limited liability subsidiary (100%), as its subsidiary, Integrated Modern Solutions Finance Company (MIS Pay), has obtained a license from the Saudi Central Bank (SAMA) to engage in Buy Now, Pay Later (BNPL) activities in the Kingdom of Saudi Arabia.
Previous Announcement	Announcement by Al Moammar Information Systems Company of the Board of Directors’ approval to establish a wholly owned limited liability subsidiary (100%).
Date of Previous Announcement on Saudi Exchange’s Website	2023-03-19 Corresponding to 1444-08-27
Hyperlink to the Previous Announcement on the Saudi Exchange Website	Click Here
Latest Developments Of The Announced Event	The Company’s subsidiary, Integrated Modern Solutions Finance Company (MIS Pay), has obtained a license from the Saudi Central Bank (SAMA) to conduct Buy Now, Pay Later (BNPL) activities in the Kingdom of Saudi Arabia.
Reasons For The Delay on The Date of The Event Previously Announced	not applicable
The costs associated with the event, and if they have changed or not with indication of the reasons.	not applicable
Delay consequences on the Company’s financial results	not applicable
Additional Information	It is worth noting that the trade name of (Excellence Application Solutions for Information Technology Company) has been changed to (Integrated Modern Solutions Finance Company), in compliance with regulatory requirements.