During an extraordinary general assembly held on September 18, 2023, Rawahel Holding addressed a violation report received from the Ministry of Commerce on August 16, 2023. The report revealed that the company's financial statements, in accordance with Article (271) of the Companies Law, indicated losses surpassing 75% of the capital. Considering this report, the company deemed it necessary to convene the assembly to assess the future path of the company, ultimately calling for a vote on its continuity. 

Rawahel Holding emphasized its reliance on its subsidiary based in the Kingdom of Saudi Arabia, where the Hajj and Umrah sector experienced a slight improvement in pilgrim numbers. The number of pilgrims reached 926,000, but this still falls short of the pre-pandemic figures in 2019, which exceeded 2.4 million pilgrims. The impact of this decline in numbers had repercussions on the company's financial statements for the year 2022, with a net profit of only KD 140,000 achieved. 

To overcome these challenges and enhance operational performance, Rawahel Holding expressed its intent to realize greater profits in 2023. The company expects favorable decisions from official authorities in the Kingdom of Saudi Arabia to increase the number of pilgrims and grant year-round access to Umrah. Additionally, Rawahel Holding is diligently working to mitigate the accumulated losses' influence on the financial statements by the end of the current fiscal year.