“DP World’s Trade Finance Platform Begins Direct Lending with Over $1 Billion in Commercial Financing Annually”

Dubai Ports World (DP World), a global provider of logistics services and integrated smart supply chain solutions, revealed that the group’s trade finance platform has started direct lending on its part. She emphasized that the platform has the ability to provide commercial financing worth more than one billion dollars annually (about 3.67 billion dirhams).

The group stated to «Emirates Today» that the platform is one of the distinguished solutions offered by «DB World» to customers currently, which helps small and medium companies to obtain commercial financing, to support their growth and increase the flow of trade.

Commercial financing

Sinan Ozkan, chief executive officer of the trade finance platform from “DB World”, said, “The trade finance platform from (DB World) is in perfect harmony with the group’s strategy and directions related to the development of trade movement inside and outside Dubai, and therefore it is one of the solutions.” The pioneer that DB World offers to customers today, which helps small and medium-sized companies obtain trade finance, to support their growth and increase trade flow.

Ozkan pointed out that «the increase in commercial traffic contributes to stimulating movement through ports and logistics business units, and thus increasing the total trade volume of the UAE».

He added that «the commercial finance platform from (DB World) has established links with data sources from third parties, in addition to the available data of (DP World), to facilitate identification, examination, inspection and monitoring processes for dealers, with the aim of providing more flexibility for applicants. Obtaining funds, ”noting that“ the registration process on the platform takes a few minutes, while the full preparation for merging customers takes between 15 and 20 minutes.

Value Added

On the benefits and added value provided by the platform to customers, Ozkan said, “The platform enables customers to obtain financing sources that were not available to them in the past, as providing additional working capital helps customers to accomplish a higher percentage of business, and to meet more requests, and thus Contribute more effectively to increasing activities and transactions that ultimately lead to revitalizing the economic movement.

He continued, “With regard to financial institutions, the platform contributes to stimulating the increase in operations and transactions, and also provides other facilities, such as full access to the movement of goods, and control over them by following up on the bonds and shipping documents of DP World.”

registered companies

Regarding the number of companies that received services provided through the platform, Ozkan revealed that “57,000 companies registered on the commercial finance platform from (DB World), and submitted credit requests in excess of $ 700 million to 24 financial institutions fully integrated on the platform, at the time it started. The platform also has direct lending on its part, and it has the ability to provide commercial financing at a value of more than one billion dollars annually (3.67 billion dirhams) individually.

Ozkan stated that «the platform provides financing agencies with comprehensive data about the customers, and a comprehensive view of the movement of goods and control over them, which helps them to provide financing with confidence, which helps save the time needed to approve credit requests submitted by customers, and it is also possible to refer to the facilities it provides. In the procedures by digitizing the processes of identification, examination, inspection and monitoring of customers.

24 financial institutions

DP World’s trade finance platform, DB World, relies on financial technology to bring together importers, exporters and logistics companies from around the world, as well as financial institutions and other trade finance solution providers.

Since its launch in July 2021, the platform has entered into a partnership with 24 financial institutions, at a time when DB World’s extensive communication with companies in the world, showing trade movement data and controlling shipments, helps financiers to communicate with companies, identify risks, Building trust and providing credit. In return, companies get access to affordable and innovative financing options to help them grow their businesses.

The trade finance platform from “DB World” obtained the lending license in June 2022, and works to provide credit through short-term operating capital solutions, such as collecting and discounting invoices, collecting and discounting debts in reverse, and financing trade payables.

DB World Trade Finance plans to share risks with existing lenders on the platform to ensure clients’ operating capital requirements are adequately met.