Al Moammar Information Systems Company (MIS) recently finalized a lucrative three-year agreement valued at SAR 34.08 million with the Saudi Data and Artificial Intelligence Authority (SDAIA). Under this contract, MIS will deliver computer systems and technical support services.

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The agreement, which was officially granted on August 30th and formally signed on November 15, 2023, is poised to bring about positive financial outcomes for MIS. This financial impact is expected to manifest between the third quarter (Q3) of 2023 and the fourth quarter of 2026, as outlined in a disclosure submitted to the stock exchange.

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In July 2023, MIS took a significant step by entering into a Sharia-compliant financing arrangement worth SAR 1.44 billion with Banque Saudi Fransi. This financing agreement is aimed at facilitating the funding of upcoming project contracts, as well as the issuance of letters of credit and guarantees