Riyadh – Mubasher: Al Moammar Information Systems Company (MIS) has renewed a Sharia-compliant facility worth SAR 150 million with Gulf International Bank (GIB), according to a bourse filing.

Valid until 27 June 2023, the Saudi company will use the investment to pay invoices, finance projects, as well as issue letters of credit and guarantee.

The facility agreement, which was signed on 10 November 2022, is secured by a promissory note worth the value of the total loan limit.

In August 2021, MIS obtained a SAR 150 million loan from GIB to finance new projects and issue bank guarantees.