Al Moammar inks SAR 500 mln credit facility deal with Al Rajhi Bank

03/12/2020 Argaam

Al Moammar Information Systems Co. (MIS) signed a Shariah-compliant credit facility agreement with Al Rajhi Bank for a total value of SAR 500 million, it said in a bourse statement.

 

The duration of the credit facility is effective from today, Dec. 3, until Dec. 31, 2021, with a promissory note in favor of Al Rajhi Bank.

 

The credit facility will be used to finance new projects, MIS said, adding that there are no related parties.

 

All procedures, including the final signature of the agreement, were completed on Dec. 3.

 

Tags – news, Saudi Arabia, credit, agreement, Al Rajhi Bank

 

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