MIS, Al Rajhi Capital to Proceed with MoU to Launch USD 266.3 Million Shariah-Compliant Fund

According to a bourse filing with Tadawul dated 26th of December 2021, Saudi-based Al Moammar Information Systems Company (MIS) has announced the latest developments for the signing of a Memorandum of Understanding (MoU) with Al Rajhi Capital to launch a special Shariah-compliant investment fund worth SAR 1 billion (USD 266.3 million).

Why it Matters?

According to the latest developments, both parties have agreed to proceed with obtaining approvals and licences and take the required steps to launch a Shariah-compliant private investment fund. The fund, which will be launched as a first phase with the objective of financing digital and technical infrastructure projects as well as medical equipment. The filing added that any relevant developments of th...