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MIS secures SAR 500m loan from Al Rajhi Bank

MIS secures SAR 500m loan from Al Rajhi Bank
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ALRAJHI
1120
-0.40% 74.70 -0.30
MIS
7200
0.30% 98.90 0.30

Riyadh – Mubasher: Al Moammar Information Systems (MIS) Company has signed a Sharia-compliant credit facility agreement worth SAR 500 million with Al Rajhi Bank.

The financing term starts on 3 December 2020 and ends on 31 December 2021, according to a stock exchange statement on Thursday.

MIS added that it will use the loan, which is guaranteed by a promissory note in favour of the bank, in financing new projects.