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MIS signs SAR 290m Islamic finance deal

MIS signs SAR 290m Islamic finance deal
Riyad Bank and MIS signed the finance agreement on 4 May
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Riyadh – Mubasher: Al Moammar Information Systems (MIS) Company has signed on Monday an Islamic finance agreement with Riyad Bank.

The renewable one-year finance facility is valued at SAR 290 million, according to a company statement to the Saudi Stock Exchange (Tadawul) on Tuesday.

MIS reported SAR 16.93 million in net profit during the first quarter (Q1) of 2020, posting a 44.45% year-on-year (YoY) increase, as shown by the company’s interim financial results.