Riyadh – Mubasher: Al Moammar Information Systems (MIS) will participate as a founding shareholder in the establishment of a Sharia-compliant digital bank in Saudi Arabia with a consortium of several commercial entities.
MIS will contribute SAR 25 million in the bank’s capital, according to a stock exchange filing on Sunday.
The establishment of the digital bank will be subject to the approvals of all competent bodies, and hence, the financial impact cannot be determined at the moment, the company explained.
