With reference to the official statement issued by the Central Bank of Bahrain (“CBB”) on 30th April 2025 regarding Safaghat W.L.L., (the “company”) licensed by the CBB to provide crowdfunding platform operator services, the CBB acknowledges the concerns expressed by investors seeking further clarity regarding the status of the company.

The CBB strives to provide all updates within the defined regulatory procedures, in the interest of maintaining transparency and investor confidence. In an effort to safeguard the integrity and stability of the financial sector, the CBB remains fully committed to taking all necessary measures in the event of any proven violations by licensed financial institutions.

In light of the violations observed by the company and following a thorough investigation conducted by the CBB, we would like to inform all concerned investors that the CBB has undertaken a series of supervisory actions, including:

• Issuing directives to the company to immediately cease providing all services and onboarding new investors on 21st January 2025.
• Appointing an independent external expert to conduct a comprehensive review of the company’s compliance with regulatory requirements and identify any violations on 9th February 2025.
• Coordinating with the relevant judicial authorities on the ongoing investigation.
• Placing the company under the administration of the CBB effective 19th June 2025, in accordance with Article (136) of the Central Bank of Bahrain and Financial Institutions Law of 2006, which stipulate that the CBB shall assume administration of the licensee and conduct the necessary management functions if the licensee becomes insolvent, or causes harm to the financial services industry in the Kingdom of Bahrain by continuing to provide regulated services.

The CBB continues to observe its supervisory role and will disclose any future measures in a timely manner, in line with its commitment to keeping investors informed of the measures taken, as the interests of investors remain a top priority for the CBB.

The CBB urges all parties to refer to its official communication channels for further updates on this matter to avoid the dissemination of inaccurate information.

The CBB would like to direct investors that have any inquiries related to the company to contact us through the National Suggestion and Complaint System “Tawasul” via the link bahrain.bh/tawasul, through the “Tawasul” mobile application, or through the official website of the CBB via the link cbb.gov.bh/complaint-form.