Al Moammar Information Systems Co. (MIS) announced the renewal and amendment of its Islamic Sharia-compliant credit facility agreement with Banque Saudi Fransi (BSF), valued at SAR 1.64 billion.
According to the company’s announcement on Tadawul, the financing will be utilized for:
- Funding accounts payable for invoices
- Supporting new project contracts
- Issuing letters of credit and guarantees
MIS also stated that the guarantees provided for the financing include promissory notes equivalent to the facility’s value.
