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

Valid until 31 December this year, the funding aims to finance projects and issue bank letters of credit and guarantee, according to a recent bourse filing.

The facility agreement, which was signed on 13 April, is secured by a promissory note worth the value of the total loan limit.

Last March, MIS renewed a SAR 1.69 billion facility agreement with Banque Saudi Fransi.