Latest news with #Deem
Fintech News ME
10-07-2025
- Business
- Fintech News ME
Tali Ventures Invests in Tarmeez Capital to Support Sukuk Market Growth
Tali Ventures, the corporate venture capital arm of stc group, has led a strategic funding round in Tarmeez Capital, a fintech company specialising in sukuk and debt instruments in Saudi Arabia. The investment marks Tarmeez Capital's transition from a self-funded business to one backed by a major national investor and supports stc group's broader strategy to invest in digital platforms contributing to the Kingdom's financial infrastructure. Tarmeez Capital, licensed by the Capital Market Authority (CMA), offers digital financing solutions across multiple sectors. Its Sharia-compliant sukuk products are available to both institutional and retail investors. The company has facilitated financing programmes exceeding SAR 2 billion and serves more than 180,000 users. Over the past year, sukuk issuances grew by 459%, supported by the firm's proprietary technology, which enables faster issuance processes compared to traditional channels. The investment follows significant growth in Saudi Arabia's corporate debt market, which reached SAR 140 billion in 2024. Digital platforms licensed by the CMA accounted for SAR 3.5 billion in issuances, a 127.36% increase year-on-year, with the total number of issuances rising 317.62% to 4,527. Majed Al Jarboua, General Manager of Corporate Fund and Entrepreneurship at stc group, stated: 'Tarmeez Capital is gaining ground in a sector that's becoming central to how companies access capital in Saudi Arabia. stc group is proud to back a homegrown fintech pushing the boundaries of digital finance. This investment marks a strategic step in scaling the next generation of financial infrastructure.' Nasser Al-Saadoun, Founder and CEO of Tarmeez Capital, commented: 'We're glad to partner with stc group, whose vision aligns with ours in advancing innovative, Sharia-compliant financial solutions. We're also grateful to the Capital Market Authority for fostering an environment where fintechs can thrive, and to our exceptional team for their continued dedication and drive.' Tarmeez Capital has facilitated financing in sectors such as industrial services and real estate. Red Sea International secured Sharia-compliant capital through the platform to fulfil contracts with Baker Hughes and Red Sea Global. The funding supported prefabricated infrastructure deployment in the Eastern Region. In the housing sector, RASF Real Estate Development is using sukuk financing for the Deem project in Al Khobar, a townhouse development targeting the Kingdom's growing middle class. Tarmeez Capital's platform also provides retail access to sukuk, contributing to broader financial inclusion and aligning with demand for ethical and ESG-compliant investment products, particularly among younger and underserved investor groups. The development supports the objectives of Vision 2030 to expand access to capital markets and promote sustainable economic growth.
Web Release
03-07-2025
- Business
- Web Release
Spend, Earn & Win with Deem Finance's first-of-its-kind loyalty program
In a move to redefine the credit card loyalty landscape, Deem Finance has launched the Joy-Win Credit Card Program to give customers more control over how they earn rewards. With this new program, cardholders can switch between guaranteed rewards with Joy and the chance to win big through a lucky draw with Win, all based on their everyday spending. The program was developed using feedback from customers, who want clear, flexible reward options. Some prefer guaranteed benefits, while others enjoy the thrill of prize draws. Now, both groups can get what they want — when they want — without any extra cost. Every dirham spent brings customers closer to the rewards that suit them best. The Power of Choice: Two Programs, One Card Designed to be flexible, switchable, and rewarding, the program allows cardholders to switch between two unique reward modes directly from the Deem Mobile App · JOY Program: Earn guaranteed rewards on Lifestyle and Travel spend · WIN Program: Earn entries into an AED 250,000 grand draw every time you spend AED 100 The program underlines Deem's promise to simplify access to finance and build trust through transparency by designing products based on customer needs and preferences. 'At Deem, we empower customers through simplicity, transparency, and choice,' said Chris Taylor, CEO of Deem Finance. 'The Joy-Win Credit Card reflects this by giving people real freedom in how they're rewarded. We're not just launching a product, we're delivering on our promise to make financial tools more meaningful and accessible for everyone. 'We're putting the power of choice back in the customer's hands,' said Suji Gopalakrishnan, Head of Retail Assets. 'As our customer feedback revealed a desire for more control, transparency, and flexibility in how rewards are earned and redeemed, we curated a card to serve this requirement. Whether you prefer guaranteed rewards or a shot at a big win, you can now switch between both, all within the same card, every month.' How it works: Customers can switch modes monthly via the Deem App. Those choosing JOY can also toggle between Lifestyle and Travel categories and earn accelerated rewards up to AED 1,000 based on spend thresholds. With Deem's new loyalty experience, every dirham spent is the customer's choice to win big or earn more. For more details, visit
Mid East Info
02-07-2025
- Business
- Mid East Info
Spend, Earn & Win with Deem Finance's first-of-its-kind loyalty program - Middle East Business News and Information
Using the Deem Mobile App, customers can seamlessly switch between two distinct reward programs to earn rewards on their credit card spend. Dubai, United Arab Emirates: In a move to redefine the credit card loyalty landscape, Deem Finance has launched the Joy-Win Credit Card Program to give customers more control over how they earn rewards. With this new program, cardholders can switch between guaranteed rewards with Joy and the chance to win big through a lucky draw with Win, all based on their everyday spending. The program was developed using feedback from customers, who want clear, flexible reward options. Some prefer guaranteed benefits, while others enjoy the thrill of prize draws. Now, both groups can get what they want — when they want — without any extra cost. Every dirham spent brings customers closer to the rewards that suit them best. The Power of Choice: Two Programs, One Card Designed to be flexible, switchable, and rewarding, the program allows cardholders to switch between two unique reward modes directly from the Deem Mobile App JOY Program: Earn guaranteed rewards on Lifestyle and Travel spend Earn on Lifestyle and Travel spend WIN Program: Earn entries into an AED 250,000 grand draw every time you spend AED 100 The program underlines Deem's promise to simplify access to finance and build trust through transparency by designing products based on customer needs and preferences. 'At Deem, we empower customers through simplicity, transparency, and choice,' said Chris Taylor, CEO of Deem Finance. 'The Joy-Win Credit Card reflects this by giving people real freedom in how they're rewarded. We're not just launching a product, we're delivering on our promise to make financial tools more meaningful and accessible for everyone. 'We're putting the power of choice back in the customer's hands,' said Suji Gopalakrishnan, Head of Retail Assets. 'As our customer feedback revealed a desire for more control, transparency, and flexibility in how rewards are earned and redeemed, we curated a card to serve this requirement. Whether you prefer guaranteed rewards or a shot at a big win, you can now switch between both, all within the same card, every month.' How it works: Customers can switch modes monthly via the Deem App. Those choosing JOY can also toggle between Lifestyle and Travel categories and earn accelerated rewards up to AED 1,000 based on spend thresholds. With Deem's new loyalty experience, every dirham spent is the customer's choice to win big or earn more.
CairoScene
15-04-2025
- Business
- CairoScene
UAE's Deem Finance Secures $400 Million Debt Facility From JP Morgan
The financing will support Deem's expansion into consumer and SME lending, as demand for non-bank credit grows across the UAE. Apr 15, 2025 Deem Finance, a UAE-based non-bank lender backed by the Gargash Group, has secured a $400 million debt financing facility from JP Morgan. The asset-backed securitisation (ABS) deal is structured as a senior revolving facility and is backed by receivables from across Deem's existing portfolio, including credit cards and other consumer financial products. The funding is set to enhance Deem's balance sheet and support the company's ongoing expansion into consumer and small business lending. Deem currently offers a suite of products targeting underserved segments in the UAE, ranging from personal loans and credit cards to auto loans and SME financing. Daman Investments acted as Deem's financial advisor for the transaction. The facility marks a significant step in the lender's strategy to diversify its capital base and meet the growing demand for alternative financing solutions in the UAE. Founded in 2019, Deem Finance is fully owned by the Gargash Group, a family-run conglomerate with longstanding operations in both the automotive and financial services sectors. The deal aligns with a broader trend in the region, where non-bank financial institutions are tapping international capital markets to bolster lending capabilities and fuel fintech innovation.
Mid East Info
06-03-2025
- Business
- Mid East Info
Deem Finance and J.P. Morgan partner with a milestone $400 million securitization facility - Middle East Business News and Information
To support consumer and SME lending in the UAE Dubai, United Arab Emirates: Deem Finance LLC ('Deem'), a Gargash Group company and a leading consumer finance provider regulated by the UAE Central Bank, has partnered with J.P. Morgan in a pioneering asset-backed securitization (ABS) to support its lending activities for consumers and SMEs. J.P. Morgan will be providing up to $400 million through a senior revolving facility backed by a diversified pool of receivables originated by Deem across various asset classes. The transaction is structured to provide significant flexibility, allowing funding to adjust to growth in the portfolio size and composition to support Deem's dynamic growth strategy. This collaboration marks a milestone in Deem's mission to enhance financial accessibility and inclusion. The transaction successfully diversifies Deem's funding sources with long-term institutional financing, enhancing its ability to address underserved customer segments. This initiative not only reinforces Deem's balance sheet and growth but also contributes to the advancement of the UAE's non-bank financial sector, aligning with the nation's vision for a dynamic and well-regulated financial ecosystem. Daman Investments acted as financial advisor for Deem and played a pivotal role in structuring and executing Deem's inaugural ABS facility. Leveraging its expertise in structured finance, Daman provided comprehensive advisory support across structuring, collateral analysis, cashflow modeling, regulatory matters, legal documentation and operational implementation. Shehab Gargash, Chairman of Deem Finance, stated: 'This landmark transaction showcases our deep belief in the UAE's financial landscape. 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.' Ahmed Khizer Khan, CEO of Daman Investments, commented: 'This milestone transaction underscores the strength of collaboration between local expertise and global financial leadership. We are proud to have played a pivotal role in this strategic financing, aligning with the UAE's remarkable growth journey and its ambition to lead as a global economic hub.' 'This financing reinforces our commitment to addressing the needs of underserved communities in the UAE,' said Chris Taylor, CEO of Deem Finance. '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 said: 'We are pleased to be collaborating 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.' Mamoun Bennani, Head of MENA Markets (public side) and Türkiye Sales, at J.P. Morgan said: 'This is a landmark transaction for both J.P. Morgan and Deem. We are looking forward to the next steps of our partnership.'
