Dubai – Sharikat Mubasher: Deem Finance entered a partnership with J.P. Morgan to secure up to $400 million through an asset-backed securitization (ABS) deal, strengthening its ability to provide financing for consumers and SMEs.

The facility, backed by a diversified pool of Deem’s receivables, is designed to scale alongside the company’s portfolio growth, offering flexible, long-term funding to support Deem’s expansion plans, as per a recent press release.

The partnership helps Deem diversify its funding sources, reinforce its balance sheet, and expand its reach to underserved customers—contributing to the growth of the UAE’s non-bank financial sector in line with the country’s financial inclusion goals.

Shehab Gargash, Chairman of Deem Finance said: “By leveraging our expertise and partnering with J.P. Morgan, we are enabling Deem’s expansion while enhancing access to credit for consumers and SMEs. We also extend our sincere appreciation to the UAE Central Bank for its unwavering support and regulatory guidance, which has been instrumental in fostering an innovative yet robust and resilient financial ecosystem.”

Chris Taylor, CEO of Deem Finance added: “This financing reinforces our commitment to addressing the needs of underserved communities in the UAE. The transaction validates the significant strategic and operational progress the team has made at Deem and supports our balance sheet and growth ambitions over the coming years.”

George Deves, Co-Head of Northern Europe ABS at J.P. Morgan, continued: “We are pleased to collaborate with Deem on this strategic transaction. Access to credit is vital for the local economy, and we are pleased to work with Deem on this initiative to support consumers and small businesses in the UAE.”