Al Moammar signs Islamic finance agreement with Bank Albilad

18/11/2019 Argaam

 

Al Moammar Information Systems Co. signed on Monday a SAR 100 million Shariah-compliant Islamic finance agreement with Bank Albilad, the company said in a statement to Tadawul.

 

The finance will be used for assigned projects and multi-bonding facility and is subject to renewal on annual basis, the statement added.

 

The loan was secured against a promissory note, and the deal has no related parties.

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