MIS renews, modifies SAR 150 mln Islamic facility with Gulf International Bank

12/08/2021 Argaam

Logo of Al Moammar Information Systems

Al Moammar Information Systems Co. (MIS) renewed and modified a Shariah-compliant credit facility, worth SAR 150 million, with Gulf International Bank (GIB) today, Aug. 12, the company said in a bourse statement.

 

The facility duration is until Aug. 11, 2022, and the agreement is secured by a promissory note in favor of GIB.

 

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

 

There are no related parties to the deal, MIS added.

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