Dubai, United Arab Emirates (AGENCIES) March 16, 2020 — Today, the President of Tabarak Investment Capital Limited (Investment Bank) Dr. Mohamed Ahmadi and the President of Elite Capital & Co. George Matharu announced a deal in which the two companies will use their combined resources to provide banking and finance facilities for the Government Future Financing 2030 Program.
The alliance between the two entities will also allow compliance-related activities to be carried out from two major international hubs of London and Dubai. This increases the international presence of both companies.
“The Government Future Financing 2030 Program is the first one-of-a-kind financial program to provide financial support, rather than lending, to the Governments and Ministries. The Program is the system of Financial Injection for BOT and BOO Projects through Ministries or Government, which does not involve burdening the Ministries or Government with sovereign debt,” Dr. Mohamed Ahmadi said.
Tabarak Investment Capital Limited is an investment bank regulated by Dubai Financial Services Authority and is incorporated in the Dubai International Financial Centre. Tabarak supports its clients to expand and improve their Global Wealth Management and Trading business by providing expert services through a proven and secure platform.
“Under the new program, Elite Capital & Co. and its governmental portfolios sign agreements with the respective Government to support the country’s BOT and BOO National Projects by providing 80% of the financing needs of those National Projects without burdening the Ministry of Finance with sovereign loans. In return, the Government announces the projects on a bidding basis by inviting all local companies and international consortia to bid for the 20% remaining funding, construction and project operations, thereby ensuring fairness, equality and transparency according to the rules, regulations and laws applicable in the respective country,” George Matharu said.
Elite Capital & Co. Limited is a private limited company that provides project-related services including Management, Consultancy and Funding, particularly for large infrastructure and commercial projects.
Dr. Mohamed Ahmadi and George Matharu concluded their statement by saying, “We are excited about these opportunities and cementing our business relationship through the Government Future Financing 2030 Program.”
Tabarak Investment Capital Limited – Contact Details –
Tabarak Investment Capital Limited
Office 208, Level 2
Burj Daman, West Court
DIFC, Dubai, UAE
Telephone: +971 4 3593700
Facsimile: +971 4 3593703
SWIFT Code: TIBIAEAD
Elite Capital & Co. – Contact Details –
Elite Capital & Co. Limited
33 St. James Square
Telephone: +44 (0) 203 709 5060
Facsimile: +44 (0) 203 709 5061
SWIFT Code: ELCTGB21