MIS signs SAR 290 mln Islamic financing agreement with Riyad Bank

05/05/2020 Argaam

 

Al Moammar Information Systems Co. (MIS) signed, on Monday, a SAR 290 million Shariah compliant financing agreement with Riyad Bank, the company said in a bourse statement today.

 

The revolving facilities, guaranteed by a promissory note of the same value, are renewable every year.

 

The facility will be used to finance project contracts waived for the benefit of Riyad Bank.

 

No related parties are involved in the deal, the statement added.

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