Al Moammar renews, modifies SAR 84.6 mln credit facility with NBK

14/09/2020 Argaam

Al Moammar Information Systems Co. (MIS) renewed and modified SAR 84.59 million worth of a Sharia-compliant credit facility with National Bank of Kuwait (NBK), the company said in a bourse statement.

 

The facility tenor extends from Sept. 13, 2020, until July 15, 2021, and is guaranteed by a promissory note.

 

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

 

The agreement did not involve any related parties, the statement added.

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