Al Moammar Information Systems Secures $473 Million Loan
Deal News | Feb 03, 2025 | Zawya
Saudi-listed Al Moammar Information Systems (MIS), an IT company, has secured a SAR 1.64 billion ($473 million) loan from Banque Saudi Fransi. The loan, which is Sharia-compliant, is allocated for paying outstanding invoices, funding projects, and issuing letters of credit guarantees. This financial move aims to strengthen MIS's liquidity and operational capability, reflecting continuous strategic financial management within the Saudi listed companies.
Sectors
- Information Technology
- Financial Services
Geography
- Saudi Arabia – Both the borrower, Al Moammar Information Systems, and the lender, Banque Saudi Fransi, are based in Saudi Arabia.
Industry
- Information Technology – MIS is an IT company, and the loan is likely tied to its operational and project financing needs.
- Financial Services – Banque Saudi Fransi's role as the lender pertains to the financial services industry.
Financials
- $473 million – The amount of the sharia-compliant loan secured by MIS from Banque Saudi Fransi.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Al Moammar Information Systems (MIS) | Borrower | Company | A Saudi-listed IT company that has secured the loan. |
| Banque Saudi Fransi | Lender | Company | The Saudi bank providing the sharia-compliant loan to MIS. |