London, UK (AGENCIES) September 7, 2021 — Mr. George Matharu, President of Elite Capital & Co. Limited, announced today that Elite Capital & Co. has conducted the annual review of the Annual Interest Report booklet for loans between 2021 and 2022, which will be submitted to the Board Members for approval during their meeting today.
“We have asked the statistics and accounting companies that we deal with during the past three months to conduct a survey on the global finance market in general and evaluate the finance market for each continent separately” George Matharu said.
It is known that in mid-January 2020, Elite Capital & Co. launched the first one-of-a-kind financial system under the name ‘Government Future Financing 2030 Program’ to provide financial support rather than lending to Governments. Under the said 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.
“The results of our surveys and evaluations of the financial markets concluded that it is necessary to continue providing competitive financial interest rates, especially in the current global market conditions with the Coronavirus (COVID-19) pandemic. Therefore, Elite Capital has decided to not to increase any of its interest rates or charges to aid the global economic recovery” George Matharu said.
It is worth noting that Elite Capital & Co. continues to provide traditional financing to the commercial and private sectors for the EPC+Finance system in return for one of the four types of collateral:
– Commercial Bank Instruments; Bank Guarantees, Bonds, Medium Term Notes, or other Bank Debt Instruments issued by banks rated ‘BB+’ or better, which is reviewed on a case-by-case basis.
– Sovereign Guarantee; Elite Capital & Co. Limited is able to facilitate funding for Government and Infrastructure Projects against a Sovereign Guarantee subject to the Sovereign Guarantee being ratified by the relevant authorities and departments, namely the Central Bank and Ministry of Finance in the respective countries. In some cases the Sovereign Guarantee may need to be confirmed by a Commercial Bank.
– Resource Guarantee; The option is available to fund projects against a Resource Guarantee, such as an Oil Guarantee, or any other valuable minerals or resources.
– Promissory Notes; Corporate Promissory Notes endorsed by a commercial bank can be useful if the project has bankable assets that can be used for leverage financing.
Mr. George Matharu, MBA. concluded his statement by saying “the data in our Interest Report is approved by the Board of Elite Capital & Co. Limited, subject to completing general compliance formalities, and will be reviewed annually as normal.
Elite Capital & Co. – Annual Interest Report 2021-2022 –
Elite Capital & Co. – Contact Details –
Elite Capital & Co. Limited
33 St. James Square
Telephone: +44 (0) 203 709 5060
SWIFT Code: ELCTGB21
Dr. Faisal Khazaal
الدكتور فيصل خزعل