Al Moammar Information Systems Co. — Capital/Financing Update 2021

Feb 14, 2021

Al Moammar Information Systems Co ( MIS) Announces its participation as a founding shareholder with a consortium of several commercial entities to establish a digital bank in Saudi Arabia that is sharia-compliant with Islamic law

7200 · 14/02/2021 15:22:47 · Announcement #61926 · View on Saudi Exchange

Al Moammar Information Systems Co ( MIS) Announces its participation as a founding shareholder with a consortium of several commercial entities to establish a digital bank in Saudi Arabia that is sharia-compliant with Islamic law

Element List	Explanation
Announcement Detail	Al-Moammar Information Systems Company (MIS) announces its sharing in an investment as a founding shareholder with a consortium of several commercial entities to establish a digital bank in Saudi Arabia that is sharia-compliant. MIS will be Kindly contributing Twenty-five million Saudi Riyals in the bank's capital.

It is necessary to note that the establishment of this digital bank will not come into effect until securing the approval l of all official entities concerned. Therefore, the financial impact and date cannot be determined precisely till license is granted from Central Bank. The MIS will be announcing any further developments in this regard in due course.

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