MIS signs SAR 252M credit facility deal with Riyad Bank

12/09/2024 Argaam
Logo ofAl Moammar Information Systems Co. (MIS)

Logo of Al Moammar Information Systems Co. (MIS)

Al Moammar Information Systems Co. (MIS) signed today, Sept. 12, a Shariah-compliant credit facility agreement worth SAR 252 million with Riyad Bank.

 

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Valid until Sept. 8, 2027, the agreement is secured by a promissory note equivalent to the value of the facilities, the company said in a statement to Tadawul.

 

The funding is intended to cover accounts payable, finance new project contracts, and issue letters of credit and guarantees.

 

There are no related parties to the agreement, the statement added.

 

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