Dubai: DP World Financial Services Limited, a DP World company, will provide easy access to trade finance for small companies.
DP World Financial Services has received the licence from Dubai Financial Services Authority to operate as an authorised firm in Dubai International Financial Centre (DIFC). The firm will connect companies needing trade finance solutions with financial institutions on its DP World's CARGOES Finance platform.
The platform intends to bring real-time data on trade passing through its digitalised ports and logistics network to give financial institutions the information they need to assess credit and compliance risks.
CARGOES Finance platform provides financial institutions the opportunity to lend with confidence and helps smaller companies to access the capital they need, said Sultan Ahmed Bin Sulayem, CEO and Chairman of DP World. “It will be a lead generator and source of new business for financial institutions, and a window of financing opportunities for traders".
Arif Amiri, CEO of DIFC Authority, said, “Operating from DIFC will give DP World access to the many financial services companies in our ecosystem who provide solutions that facilitate global trade through Dubai."
