Deem Finance LLC (“Deem”), a leading consumer finance provider under the Gargash Group and regulated by the UAE Central Bank, has partnered with J.P. Morgan to secure a $400 million asset-backed securitization (ABS) facility. This milestone agreement supports Deem’s lending expansion for consumers and small and medium-sized enterprises (SMEs) across various asset classes.
The financing, structured as a senior revolving facility, offers flexibility to adapt to Deem’s evolving portfolio. By diversifying its funding sources with long-term institutional capital, Deem strengthens its financial position, enabling greater access to credit for underserved segments. This move also bolsters the UAE’s non-bank financial sector, aligning with the nation’s vision for a dynamic, well-regulated financial ecosystem.
Daman Investments Plays a Key Role in Structuring the Deal
Daman Investments, serving as Deem’s financial advisor, played a pivotal role in structuring and executing the company’s first ABS facility. Leveraging expertise in structured finance, Daman provided end-to-end advisory support, covering collateral analysis, cashflow modeling, regulatory compliance, legal documentation, and operational execution.
Shehab Gargash, Chairman of Deem Finance, stated:
“This landmark transaction reflects our confidence in the UAE’s financial landscape. By collaborating with J.P. Morgan, we are fueling Deem’s expansion while enhancing financial accessibility for consumers and SMEs. We extend our gratitude to the UAE Central Bank for its unwavering regulatory support in fostering a resilient and innovative financial ecosystem.”
Ahmed Khizer Khan, CEO of Daman Investments, added:
“This milestone highlights the power of collaboration between local expertise and global financial leaders. We are proud to have played a key role in securing this strategic financing, aligning with the UAE’s vision of becoming a global economic powerhouse.”
J.P. Morgan’s Commitment to Financial Growth in the UAE
Chris Taylor, CEO of Deem Finance, emphasized the transaction’s significance:
“This financing underscores our commitment to serving underserved communities in the UAE. It validates Deem’s strategic and operational progress while strengthening our balance sheet and growth ambitions.”
George Deves, Co-Head of Northern Europe ABS at J.P. Morgan, commented:
“We are pleased to collaborate with Deem on this initiative, as access to credit is essential for economic growth. This partnership supports consumers and SMEs, further strengthening the UAE’s financial landscape.”
Mamoun Bennani, Head of MENA Markets (Public Side) and Türkiye Sales at J.P. Morgan, concluded:
“This transaction is a landmark for both J.P. Morgan and Deem. We look forward to further strengthening our partnership in the future.”
This groundbreaking deal reinforces Deem Finance’s position as a leader in the UAE’s consumer finance sector while demonstrating J.P. Morgan’s ongoing commitment to driving economic growth through strategic financial solutions.
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