MIS granted $67.2mln loan from Riyad Bank

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The Saudi firm will use the Sharia-compliant facility for invoice payables, project financing, as well as issuance of letters of credit and guarantee

Staff Writer, Mubasher

September 16, 2024

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Riyadh – Al Moammar Information Systems Company (MIS (obtained SAR 252 million from Riyad Bank on 10 September 2024, according to a bourse disclosure.

The Saudi firm will use the Sharia-compliant facility for invoice payables, project financing, as well as issuance of letters of credit and guarantee

The financing agreement, which is valid until 8 September 2027, is secured by a promissory note to the amount of the total facilities limit.

MIS inked the deal with Riyad Bank on 12 September.

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