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Amount Due From/To Related Parties
 6 Months Ended
Jun. 30, 2024
Amount Due from/to Related Parties [Abstract]  
AMOUNT DUE FROM/TO RELATED PARTIES
18AMOUNT DUE FROM/TO RELATED PARTIES

 

Related parties represent associated companies, shareholders, directors and key management personnel of the Group, and entities controlled, jointly controlled or significantly influenced by such parties. Pricing policies and terms of these transactions are approved by the Group’s management.

 

18.1Related party balances

 

Due from related parties:

 

   (Unaudited)   (Audited) 
   June 30,
2024		   December 31,
2023		 
   USD   USD 
(a) Affiliated companies:          
Du – UAE   352,996    69,517 
Mobily – KSA   70,343    203,962 
    423,339    273,479 

 

(b) Due from related parties:        
Maher Khawkhaji (General manager of Spotlight Recreational Services LLC)   56,746    73,482 
Gulf DTH FZ LLC   876,984    
-
 
    933,730    73,482 
    1,357,069    346,961 

 

Due to shareholders and related parties

 

   (Unaudited)   (Audited) 
   June 30,
2024		   December 31,
2023		 
   USD   USD 
(a) Due to shareholders        
Edgard Maroun   371,426    606,816 
Elias Habib   262,149    490,681 
    633,575    1,097,497 

 

(b) Due to related parties:        
Gulf DTH FZ LLC   12,209,271    
-
 
    12,209,271    
-
 
    12,842,846    1,097,497 

 

The above balances are interest free and have no fixed repayment terms.

 

The amounts due to Gulf DTH LLC represent recharges for video content, shared employees cost and rent recharged to Anghami.

 

18.2Related party transactions

 

Significant transactions with related parties included in the condensed interim consolidated statement of comprehensive income are as follows:

 

   For the six-month period
ended June 30		 
   (Unaudited)   (Unaudited) 
   2024   2023 
   USD   USD 
         
Revenues from Du and Mobily   785,384    538,509 
Fees paid to Du and Mobily (cost of revenue)   (147,697)   (125,788)

 

Du and Mobily utilize their network to facilitate subscription payments for the Group’s users.

 

18.3Compensation of key management personnel of the Group

 

   For the six-month period
ended June 30		 
   (Unaudited)   (Unaudited) 
   2024   2023 
   USD   USD 
         
Short term employee benefits   640,637    694,969 
Post-employment pension and medical benefits   23,071    29,287 
Termination benefits   
-
    6,513 
Total compensation of key management personnel of the Group   663,708    730,769