MIS renews SAR 500 mln Islamic facilities with Al Rajhi Bank

Logo of Al Moammar Information Systems Co.

Al Moammar Information Systems Co. (MIS) renewed, on April 13, an Islamic facilities agreement worth SAR 500 million with Al Rajhi Bank, the company said in a statement to Tadawul.

The facility will be used to finance new projects, and issue letters of credit and guarantees.

The loan term is valid until July 31, 2022, and the amount is guaranteed by a promissory note, MIS added, noting that there are no related parties to the deal.

In December 2020, MIS signed an Islamic facilities agreement at a total value of SAR 500 million with Al Rajhi Bank, Argaam reported.