Spotlight on inventory financing
Dubai, July 7, 2013
Menafactors, a company regulated by the DFSA, organised a business breakfast event for trading companies on inventory financing solutions in the Emirate, alongside Dubai Multi Commodities Centre (DMCC), a government of Dubai Authority.
The event focused on ‘the latest trends and updates on GCC tradeflows’ and was held at the Capital Club, Dubai International Financial Centre (DIFC), said a statement.
The organisers highlighted various ways to cash in on the region’s growth by integrating the DMCC’s tradeflow system and Menafactors’ expertise in trade finance, it said.
DMCC tradeflow offers a central, web-based registry of ownership for commodities and other assets in the UAE. Owners can store their goods in the country and request the warehouse to issue a DMCC Tradeflow Warrant, allowing for legal representation of ownership. These, in turn, can be pledged to Menafactors in exchange for trade financing, said the statement.
“Menafactors has recognised the benefits of its association with DMCC inoffering Inventory Financing to commodity traders, and we consider it an innovative structure which can help infuse much needed liquidity into the trade finance market, thereby stimulating the Middle East’s trade growth,” said Menafactors CEO Anand Padmanaban.
The DMCC team delivered a presentation on DMCC tradeflow and the benefits available to traders and financiers through membership of the platform. – TradeArabia News Service