Gargash Group acquires Deem Finance

Gargash Group acquires Deem Finance
Gargash Group acquires Deem Finance

Gargash Group has announced the acquisition of Deem Finance, a digital financial services provider in the consumer finance sector in the UAE. The acquisition is expected to expand the financial services offering of the Gargash Group in the market, and enhance the group’s ability to implement its strategic growth plans.

Gargash Group has had a strong presence in the non-banking financial services sector for 23 years through Daman Investment Company, which is one of the regional companies operating in this sector. Daman Investments offers a variety of services including asset management, stock brokerage, and wealth management.

Daman Investments also has a long history in the field of investment management and advisory services to local and regional clients. Daman, through its core advisory services, assists companies in increasing their capital to strengthen and grow their businesses, advises on mergers, acquisitions and sales, and provides guarantees for capital, equity and debt market transactions.

Deem Finance is a financial services institution that provides a wide range of corporate finance solutions, including loans, credit cards and corporate deposits. The company is licensed by the Central Bank of the UAE, and has managed to attract a wide customer base in the UAE market through its innovative range of cashback cards and cards based on customer loyalty rewards.

Shehab Gargash, Managing Director and CEO of Gargash Group, said: “We are very pleased to be part of Deem’s growth journey. We believe this transaction will allow us to reinvent and develop our financial services in a way that allows us to align the success of our brands with the financial success of our customers.

Ahmed Khedr Khan, CEO of Daman Investments, said: “Deem Finance has built a strong product portfolio and has the technological foundations to launch innovative financial products and services that meet the evolving needs of individual and corporate clients. The announcement of the deal did not include disclosure of the terms of the acquisition of Deem Finance.

Follow the economic statement via Google News
Follow the economic statement via Google News

Print
Email

Twitter
LinkedIn
Pin Interest
Whats App

These were the details of the news Gargash Group acquires Deem Finance for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV Saudi Arabia extends duration of 2018 deposit at central bank of Yemen
NEXT Sustainable beauty: Capturing a rising demand for conscious living

Author Information

I am Joshua Kelly and I focus on breaking news stories and ensuring we (“Al-KhaleejToday.NET”) offer timely reporting on some of the most recent stories released through market wires about “Services” sector. I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for Al-KhaleejToday.NET specializing in quicker moving active shares with a short term view on investment opportunities and trends. Address: 838 Emily Drive Hampton, SC 29924, USA Phone: (+1) 803-887-5567 Email: [email protected]