MIS renews, modifies SAR 216.3 mln Shariah-compliant facilities with SABB

28/01/2021 Argaam

Al Moammar Information Systems Co. (MIS) renewed and modified SAR 216.3 million Shariah-compliant credit facility agreement from Saudi British Bank (SABB), the company said in a bourse statement.

 

The funding, which was obtained on Jan. 26, 2021, has a term from Jan. 28, 2021 until Dec. 31, 2021.

 

The credit is covered by a promissory note in favor of SABB and is intended to go towards financing new projects and the supply chain, the statement added.

 

There are no related parties included in the deal.

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