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

The team told “Emirates Today” that the platform is currently one of the best solutions offered by “DB World” to clients to access business finance for small and medium enterprises, support their growth and increase trade flow.

Business finance

“(TB World’s) trade finance platform is in perfect alignment with the group’s strategy and direction in terms of promoting trade movement in and out of Dubai,” said Sinan Oskan, CEO of DB World’s trade finance platform. , so this is one of the solutions. (DB World) is now providing customers with Pioneer, which helps small and medium-sized companies access business finance, support their growth and increase business flow.

“The increase in commercial traffic contributes to stimulating movement through ports and logistics business units, thereby increasing the UAE’s total trade volume,” Ozkan pointed out.

He added that the commercial finance platform has established linkages with third-party data sources (DB World) with available data (DB World) to facilitate the process of identification, vetting, inspection and monitoring of dealers. Aimed at providing more flexibility to applicants.Getting funding, “The process of registering on the platform takes a few minutes, while the entire preparation for bringing together customers takes 15 to 20 minutes.

Value added

On the benefits and added value offered by the platform to customers, Ozkan said, “The platform enables access to financial resources that were not available in the past, providing additional working capital enables customers to achieve a higher percentage of business, meet higher demands, contribute more effectively to increasing operations and transactions, and ultimately economic growth. Lead to a revival of the movement.

He continued, “For financial institutions, the platform contributes to the increase in operations and transactions, and provides other facilities such as full access to the movement of goods and control over them by tracking bonds and shipping. DB World documents.”

Registered Companies

Regarding the number of companies that have received services provided by the platform, Ozkan revealed, “57,000 companies have registered on the business finance platform from (DB World) and submitted loan requests of over $700 million to 24 financial companies fully integrated on the platform. , at the time of its launch, the platform also has direct lending on its side, and individually has the capacity to provide over a billion dollars (3.67 billion dirhams) in trade financing annually.

Ozkan said, “The platform provides financial institutions with detailed data about customers, and a comprehensive view of the movement of goods and control over them, which helps them provide financing with confidence, which helps save the time needed to approve submitted loan requests. By customers, and it is also possible to specify the facilities it offers. Customers In procedures by digitizing the processes of identification, selection, inspection and monitoring.

24 financial institutions

DB World’s trade finance platform DB World relies on financial technology to connect importers, exporters and logistics companies and financial institutions and other trade finance solution providers around the world.

Since its launch in July 2021, the platform has partnered with 24 financial institutions, enabling financiers to communicate with institutions and identify risks, managing trade movement data and exports, and providing DB World with comprehensive connectivity to the world’s institutions. , building trust and lending. In return, companies gain access to affordable and innovative financing options to help grow their businesses.

The trade finance platform powered by “DB World” received its lending license in June 2022 and works to provide credit through short-term working capital solutions such as collection and write-off of invoices, collection and write-off of reverse loans and trade payables financing.

DB World Trade Finance plans to share risks with existing lenders to ensure that customers’ working capital requirements are adequately met.