Riyadh - Mubasher: Al Moammar Information Systems (MIS) has inked a binding agreement with a European Fintech company to develop and implement several applications, as MIS seeks to establish a wholly-owned subsidiary.
Under the agreement, the European company will help MIS to launch a venture studio in the fourth quarter (Q4) of 2021 and the application of "Buy Now, Pay Later" (BNPL), expected to be introduced in the first half (H1) of 2022, according to a bourse filing on Wednesday.
The Fintech company will also enable MIS to launch a platform and application of the e-marketplace, forecast to be introduced in H1-22, and study and develop the launch of open banking platforms.
It is noteworthy to mention that in late September, the company's board approved to incorporate a wholly-owned subsidiary.
