Riyadh –  Al Moammar Information Systems Company (MIS) renewed its Sharia-compliant facility deal with Banque Saudi Fransi at a value of SAR 1.44 billion on 25 July 2023.

The agreement is valid until 31 July 2024 and is secured by a promissory note with the total amount of the loan, according to a bourse disclosure.

MIS will utilise the facility to finance new project contracts and issue letters of credit and guarantee.

It is worth highlighting that the two parties signed a financing deal worth SAR 1.69 billion in March 2022.

Earlier this month, the Saudi company announced a project contract valued at SAR 38.53 million with the General Authority for Survey and Geospatial Information (GASGI).

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