MIS, Al Rajhi Capital to proceed with MoU to launch Shariah-compliant fund

Logo of Al Moammar Information Systems Co. (MIS)

Al Moammar Information Systems Co. (MIS) said it will proceed with the memorandum of understanding (MoU) signed with Al Rajhi Capital to launch a special Shariah-compliant investment fund worth SAR 1 billion, according to a bourse filing.

The company said the fund will be launched as a first phase with the aim of partnerships in digital infrastructure and medical equipment projects and in accordance with the Investment Funds Regulations (IFR) of the Capital Market Authority (CMA).

The relevant updates will be duly revealed, the statement added.

According to data compiled by Argaam, MIS signed, on Aug. 29, an MoU with Al Rajhi Capital to launch a special Shariah-compliant investment fund worth SAR 1 billion.

MIS will be the marketer, supplier, implementer, and exclusive operator of the fund's projects. The fund provides various financing methods that suit customer requirements such as long-term leasing, construction, operation, transfer, payment for use and partnership programs between the public and private sectors, and other financing structures.