MIS renews SAR 110 mln banking facility with ANB

Al Moammar Information Systems Co. (MIS) announced on Sunday that it has renewed and modified a Sharia-compliant facility agreement worth SAR 110 million with Arab National Bank (ANB) to finance new projects, according to a bourse statement.

The one-year credit facility, which is valid from July 31, 2019, is guaranteed by a promissory note for ANB.

MIS noted that the deal has no related parties, adding the agreement was signed on December 12, 2019, the statement added.