|18 November, 2019

Saudi Arabia's Bank Albilad provides $27mln facility to Al Moammar Information 

Credit will used to finance projects and multi-bonding facility

Image used for illustrative purpose. Traffic Jam Artificial Intelligence concept.

Image used for illustrative purpose. Traffic Jam Artificial Intelligence concept.

Getty Images/ Dong Wenjie

Saudi-listed Al Moammar Information Systems Co. today announced obtaining a 100 million Saudi riyals ($26.7mln) Shariah-compliant facility from Bank Albilad.

The banking facility will be used to finance assigned projects and multi-bonding facility, Al Moammar said in a bourse statement.

The facility is Shariah-compliant and will be subject to renewal annualy.

(Writing by Nada Al Rifai nada.rifai@refinitiv.com, editing by Seban Scaria)

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2019