MIS signs SAR 450M credit facility deal with GIB

Al Moammar Information Systems Co. (MIS) renewed and amended a SAR 450 million Shariah-compliant credit facility agreement with Gulf International Bank (GIB) - Saudi Arabia.

In a statement to Tadawul, the company said the financing was secured on Aug. 14, with the agreement signed on Aug. 19. The facility will remain in place until April 27, 2026

MIS noted that the facility is intended to finance new project contracts and support the issuance of letters of credit and guarantees.

A promissory note equivalent to the facility amount was provided as collateral, the statement said, noting that no related parties are involved in the contract.