Deem Finance, a UAE-based consumer finance firm, has partnered with JP Morgan in an asset-backed securitisation (ABS) deal. The agreement aims to boost lending to small and medium enterprises (SMEs) and individual consumers.
Under this deal, JP Morgan will provide up to $400 million (Dh1.46 billion) through a senior revolving facility. This financing is backed by a diversified pool of receivables originated by Deem Finance. The transaction strengthens Deem’s funding sources, allowing it to serve underserved market segments more effectively.
Key Players and Strategic Advisory
Daman Investments acted as Deem Finance’s financial advisor, guiding the structuring and execution of its first ABS facility. The firm offered expertise in structured finance, cash flow modelling, regulatory matters, and legal documentation.
Shehab Gargash, Chairman of Deem Finance, praised the UAE Central Bank for its regulatory support. He emphasized that this collaboration will drive financial innovation while ensuring market resilience.
Ahmed Khizer Khan, CEO of Daman Investments, highlighted the deal’s significance. He noted that the partnership between local expertise and global financial leadership strengthens the UAE’s financial sector.
Strengthening Financial Inclusion
Chris Taylor, CEO of Deem Finance, reaffirmed the company’s commitment to expanding credit access. He stated that the agreement would help meet the financial needs of underserved communities.
George Deves, Co-Head of Northern Europe ABS at JP Morgan, echoed this sentiment. He emphasized that access to credit is vital for economic growth and expressed JP Morgan’s support for Deem’s mission.
This deal marks a significant step in strengthening financial inclusion and supporting business growth in the UAE.
