MIS signs SAR 450M credit facility deal with GIB

Logo of Al Moammar Information Systems Co. (MIS)

Al Moammar Information Systems Co. (MIS) renewed and amended a SAR 450 million Shariah-compliant credit facility agreement with Gulf International Bank (GIB) - Saudi Arabia.

In a statement to Tadawul, the company said the financing was secured on Aug. 14, with the agreement signed on Aug. 19. The facility will remain in place until April 27, 2026.

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MIS noted that the facility is intended to finance new project contracts and support the issuance of letters of credit and guarantees.

A promissory note equivalent to the facility amount was provided as collateral, the statement said, noting that no related parties are involved in the contract.