Al Moammar Information Systems renews $40mln facility deal with GIB

Getty Images

Valid until 27 June 2023, the Saudi company will use the investment to pay invoices, finance projects, as well as issue letters of credit and guarantee

Staff Writer, Mubasher

November 14, 2022

PHOTO

Riyadh – Al Moammar Information Systems Company (MIS) has renewed a Sharia-compliant facility worth SAR 150 million with Gulf International Bank (GIB), according to a bourse filing.

Valid until 27 June 2023, the Saudi company will use the investment to pay invoices, finance projects, as well as issue letters of credit and guarantee.

The facility agreement, which was signed on 10 November 2022, is secured by a promissory note worth the value of the total loan limit.

In August 2021, MIS obtained a SAR 150 million loan from GIB to finance new projects and issue bank guarantees.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.