MIS renews SAR 60 mln Islamic facilities with GIB

Al Moammar Information Systems (MIS) renewed and amended a Shariah-compliant Murabaha agreement worth SAR 60 million with Gulf International Bank (GIB).

The one-year Islamic facility, which was secured on March 11, will be valid until March 10, 2021, the company said in a bourse statement.

The facility, guaranteed by a promissory note, will be used for financing new projects.

No related parties are involved in the deal, the statement added.