MIS gets CMA nod to launch private investment fund with Al Rajhi Capital

Logo of Al Moammar Information Systems Co.

Al Moammar Information Systems Co. (MIS) received the approval of the Capital Market Authority (CMA) to offer a Shariah-compliant private investment fund, valued at SAR 1 billion, with Al Rajhi Capital.

MIS will be the exclusive marketer, supplier, executor and operator of the fund's projects, according to a statement on Tadawul today, July 12.

The fund will provide various financing modalities to cater to consumer needs. This includes long-term leasing, build-operate-transfer, pay-for-use and public-private partnership programs, among others.

Any material developments will be announced in due course, the statement added.

According to data compiled by Argaam, MIS signed, in August 2021, a memorandum of understanding (MoU) with Al Rajhi Capital to launch a special Shariah-compliant investment fund worth SAR 1 billion as a first phase, under the CMA’s Investment Funds Regulations.

The fund aims to generate passive income for investors through financing and operational leasing of digital and technical infrastructure projects and medical equipment in the governmental, semi-governmental and private sectors in the Kingdom.