Al-Moammar Information Systems Company (MIS) announced today, Monday, the signing of a memorandum of understanding with Al-Rajhi Capital, with the aim of launching a special Shariah-compliant investment fund. The first stage of the project aims to finance digital and technical infrastructure projects and medical equipment, with an amount of one billion riyals as a first stage.
The fund aims to achieve regular income for investors through financing and operating leasing of digital and technical infrastructure equipment and medical equipment, primarily in financing digital and technical infrastructure projects and medical equipment in The government, semi-governmental and private sector in the Kingdom of Saudi Arabia, according to the company's statement to the Saudi Tadawul.
Al-Muammar Company will undertake the marketing, supply, implementation and exclusive operation of the Fund's projects.
The Fund provides various financing methods that suit clients' requirements such as long-term leasing, build-operate-transfer, pay-for-use programs, public-private partnership programs, and other financing structures .
This memorandum shall enter into force from the date of its signature by both parties and shall last for 120 days.
Early last month, Al-Muammar announced the signing of a memorandum of understanding with Saudi Fransi Capital to establish a private investment fund to invest in venture capital in the technology sector, with a focus on The Kingdom of Saudi Arabia, the size of 150 million riyals.
MIS said in a statement that the main terms of the memorandum of understanding include Saudi Fransi Capital's intention to establish and manage a venture capital fund with the primary investment objective of making investments in equity capital. Early stage money in tech startups primarily in Saudi Arabia.
