MIS inks $9mln deal with Saudi AI authority

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The contract is anticipated to have a positive financial impact on MIS

Staff Writer, Mubasher

November 30, 2023

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Riyadh: Al Moammar Information Systems Company (MIS) has signed a three-year contract worth SAR 34.08 million with the Saudi Data and Artificial Intelligence Authority (SDAIA) to provide computer systems and technical support services.

The contract, which was awarded on 30 August and signed on 15 November 2023, is anticipated to have a positive financial impact on MIS during the period from the third quarter (Q3) of 2023 to Q4-26, according to a bourse filing.

In July 2023, MIS signed a SAR 1.44 billion Sharia-aligned financing agreement with Banque Saudi Fransi to fund its upcoming project contracts and issue letters of credit and guarantee.

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