MIS Obtains Bank Facility from Arab National Bank in Amount of SR220 Million

Al Moammar Information Systems Company (MIS) announced on Sunday the renewal and amendment of bank facility in compliant with Islamic Sharia with Arab National Bank amounting to SR220,000,000 and the financing duration is valid till 31.07.2022.

Concerning the guarantees offered for the financing, the Company said represented in facility agreement secured by promissory note to the amount of total facilities limit in favor of the Arab National Bank.

The Company indicated on Sunday on Tadawul that the financing objective is financing new project contracts and issuance of bank guarantees.

There are also related parties. (Sub-allocation facility line available for MIS 100% owned company EMS)