PHOTO
Riyadh – Al Moammar Information Systems Company (MIS) has renewed a Sharia-compliant banking facility agreement with Banque Saudi Fransi on Sunday, according to a bourse filing to Tadawul.
MIS will receive a loan worth SAR 332.45 million that is valid until 30 June 2022.
The company will be issuing a promissory note as a guarantee in favour of the bank.
MIS aims to use the credit facility in funding project contracts and issuing letters of initial, final, and submitted guarantees.
Last week, the two entities signed a binding memorandum of understanding (MoU) to establish a private investment fund at a potential long-term size of up to SAR 3.5 billion.
Source: Mubasher
All Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. (Syndigate.info).
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.
