UAE lender Deem Finance, which is part of the Gargash Group, has successfully obtained an asset-backed securitization facility (ABS) of up to $400 million from J.P. Morgan. This significant financing arrangement aims to enhance the company’s balance sheet and to support its lending activities directed towards small and medium-sized enterprises (SMEs) and consumers.

The deal allows J.P. Morgan to provide up to $400 million through a senior revolving facility that is backed by receivables generated by Deem across various asset classes. Chris Taylor, the CEO of Deem Finance, emphasized that this financing demonstrates their commitment to meeting the needs of underserved communities in the UAE.

Deem Finance offers a variety of financial services, including personal loans, business financing, credit cards, and auto loans. Additionally, Daman Investments served as the financial advisor for Deem during this transaction.