<The Ministry of Commerce and Industry (MCI) has announced that it has joined the XBRL International Electronic Financial Reporting Organization (XBRL) as a member of the organization, which aims to keep pace with the best practices and international developments in the field of electronic disclosure of financial and non-financial information and data in XBRL. This step aims to keep pace with best practices and relevant international developments. The Ministry explained that the membership of the organization contributes to enhancing the opportunities for exchanging the experiences and services it provides in the field of electronic disclosure of financial and non-financial information and data in XBRL, in addition to communicating with language experts around the world, opening the way for communication and cooperation with relevant authorities and organizations and benefiting from their experiences in this field and participating in technical courses, workshops and conferences organized by the organization.

Ministry of Commerce and Industry. The International Organization is a non-profit organization that aims to set standards for the XBRL language. It is a federation of about 600 entities and organizations from the public and private sectors from different countries of the world, and works to prepare and issue XBRL classifications and develop them, with the aim of improving the disclosure and transparency process, as well as coordinating between organizations and members and encouraging the exchange of expertise in the organization.

Organization. It is worth mentioning that last January, the Ministry established the electronic filing program for financial lists «Qawm» in cooperation with the Association of Certified Public Accountants to provide a set of services related to financial lists and information of economic enterprises, as the program allows enterprises and audit offices to file their lists using the XBRL language to benefit from them by the relevant authorities.