Riyadh – Mubasher: Al Moammar Information Systems (MIS) has renewed and amended a credit facility agreement, that is in compliance with Shariah Law, with the Arab National Bank (ANB). The Saudi company said that the agreement aims to provide SAR 110 million to support the company’s new projects, according to a bourse disclosure to Tadawul on Monday.

It added that the credit facility agreement with the ANB was signed on 12 December 2019.

It is noteworthy that during the third quarter of 2019, the preliminary financial statements of Al Moammar reported a 12.2% year-on-year decline in net profit to SAR 14.39 million, compared to SAR 16.39 million in the same period in 2018.