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Al Moammar, Albilad ink Islamic finance deal

Al Moammar, Albilad ink Islamic finance deal
The purpose of the SAR 100 million bank facility is to finance assigned projects
ALBILAD
1140
0.94% 26.80 0.25
MIS
7200
-0.23% 43.90 -0.10

Riyadh – Mubasher: Al Moammar Information Systems Company announced signing a Shariah-Compliant Islamic finance agreement with Bank Albilad.

The SAR 100 million credit facility was received on 22 October 2019, according to a company statement to the Saudi Stock Exchange (Tadawul) on Monday.

The purpose of the bank facility is to finance assigned projects as well as multi-bonding facility, the company noted.