Al Moammar Information Systems (MIS) announced the signing of an agreement to amend and renew financing facilities in compliance with the provisions of Islamic Sharia (an Islamic financing agreement) with the National Bank of Kuwait.
The company said in a statement to the Saudi market (Tadawul) today, Monday, that the value of the financing is 84.592 million Saudi riyals, and the acquisition begins on September 13 and ends on the 15th. July 2021.
and clarified that the guarantees presented against the financing are a promissory note in favor of the National Bank of Kuwait.
The company stated that the purpose of the financing is to use the proceeds of the agreement to amend and renew the financing facilities in project financing facilities, and guarantees facilities to issue letters of guarantee.
The company announced, on Sunday, the renewal and amendment of a credit facility agreement compatible with Islamic law from Samba Financial Group (a general murabaha agreement) to finance new projects, with a financing value of 120.24 million riyals.
(Amazon Fun Knowledge)
