Riyadh – Mubasher: Al Moammar Information Systems Company (MIS) has renewed a Sharia-compliant facility worth SAR 155 million with the National Bank of Kuwait (NBK).

Valid until 31 August 2022, the facility aims to finance new project contracts and issue bank guarantees, according to a bourse filing on Tuesday.

The facility agreement is secured by a promissory note to the amount of total facilities limit.

It is noteworthy to mention that in the third quarter (Q3) of 2021, the company registered net profits after Zakat and tax worth SAR 19.05 million, down by 15% year-on-year (YoY) from SAR 22.5 million.