Al Moammar Information Systems (MIS) announces the signing of an agreement for a loan compliant with Islamic rules.

Al Moammar Information Systems (MIS) announces the signing of an agreement for a loan compliant with Islamic rules.

Element List

Explanation

Introduction

Al Moammar Information Systems Co. (MIS) Announces renewal and amendment of bank facility in compliant with Islamic Sharia with Banque Saudi Fransi as follow:

Date of obtaining the funding

2023-07-23 Corresponding to 1445-01-05

Financing entity

Banque Saudi Fransi

Financing amount.

SAR 1,445,649,825.00

Financing duration.

valid till 31/07/2024

Guarantees offered for the financing

Facility agreement secured by Promissory note to the amount of total facility limit

Financing objective

Financing new project contracts and issuance of letters of credit & guarantee

Related Parties

Not Applicable

Additional Information

MIS signed the facility agreement on 25/07/2023