Saudi Arabia's Al-Moammar secures 2 billion riyal facilities

Al Ma'mar Information Systems Company of Saudi Arabia has secured credit facilities worth 2 billion riyals from Al Rajhi Bank, aimed at financing its major and minor projects. These facilities, which include modifications and renewal of a financing agreement in accordance with Islamic Shariah principles, are intended to support the expansion of information and communications technology projects within the Kingdom. This move comes amidst growing spending on digital transformation and technological infrastructure in Saudi Arabia, driven by Vision 2030 and the increasing demand for digital services, cloud computing, and artificial intelligence.

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