MIS Renews and Modifies SAR 216.25 Million Shariah-Compliant Credit Facility from Saudi British Bank

Saudi-based information technology company, Al Moammar Information Systems (MIS) has renewed and modified a SAR 216.25 million Shariah-compliant credit facility agreement from Saudi British Bank (SABB), according to a Saudi Stock Exchange (Tadawul) statement filed on the 28th of January 2021.

The funding, which was obtained on the 26th of January 2021 from SABB is effective from the 28th of January 2021 until the 31st of December 2021, according to the Tadawul filing. The facility was signed by MIS on the 28th of January 2021.

The credit facility is guaranteed by a promissory note in favour of SABB and will be used towards financing new projects and the supply chain, the statement said, adding that no related parties were involved in the deal.

Earlier in Decem...