Al-Muammar Information Systems Company (MIS) announced its agreement with Al-Rajhi Capital to move forward and take the necessary steps to launch a special investment fund that is compliant with the provisions of Islamic law, amounting to one billion riyals as a first stage, with the aim of partnering in digital infrastructure projects, technology and medical equipment.
Al-Muammar added in a statement on the Saudi Tadawul market today, Sunday, that the agreement comes within our commitment to the memorandum of understanding signed between the two companies on August 30, 2021, which stipulated the launch of this investment fund.
Under the memorandum, Al Muammar Company will be the marketer, supplier, executor and exclusive operator of the fund’s projects.
The Fund provides various operational contract methods that suit clients’ requirements such as long-term leasing, build-operate-transfer and pay-for-use in order to contribute to public-private partnership programs and other operational contract structures.
Al-Muammar indicated that it will announce any fundamental developments in due course.
The fund aims to achieve regular income for investors through financing and operational leasing of digital and technical infrastructure equipment and medical equipment, primarily in financing digital and technical infrastructure projects and medical equipment in the governmental, semi-governmental and private sectors in the Kingdom of Saudi Arabia, according to a previous statement by Al-Muammar. .