MIS renews SAR 758.8 mln credit facilities with Al Rajhi Bank, SABB

Logo of Al Moammar Information Systems Co.

Al Moammar Information Systems Co. (MIS) renewed, on March 20, an Islamic facilities agreement at a total value of SAR 500 million with Al Rajhi Bank, the company said in a statement to Tadawul.

The facilities were renewed until Nov. 30, 2023, and are fully guaranteed by a promissory note, MIS added.

In a separate statement, MIS said that it also renewed another Islamic facilities agreement at SAR 258.8 million with Saudi British Bank (SABB).

The facilities were renewed until Dec. 31, 2023, and are fully guaranteed by a promissory note, MIS added.

The company will use all facilities to finance new projects, and issue letters of credit and guarantee.

There are no related parties to both agreements, MIS added.