Menafactors has been a pioneer in the provision of specialised supply chain financing in the Middle East since 2008, where it has been consistently providing finance to importers, exporters and domestic traders.

Menafactors is one of a few companies in the UAE focused entirely on providing customised cashflow and trade receivables management facilities, and its forte lies in working with clients to meet their specific trade finance requirements. As one of the leading standalone providers of factoring in the UAE and with the ability to support businesses of every size, it is strategically positioned to cover the trade finance needs of UAE businesses into the Middle East and beyond.

Menafactors believes that with the increasing complexity of financial inputs in international trade, it has become imperative for businesses to have an experienced trade finance partner – a partner that brings capacity, knowledge of trade models and the reach across the buyer-seller divide to facilitate transactions to provide harmonised services wherever clients have business. The company is ideally positioned to leverage its market intelligence capabilities, its network of partners and its lineage (FIMBank Group) to its clients’ distinct advantage. The company also takes pride in its commitment to provide a high level of service quality and customer satisfaction as demonstrated by winning the prestigious GTR Mena Leaders in Trade award for factoring on quite a few occasions.

Menafactors CEO Anand Padmanaban says: “As our regulator, the DFSA plays a major role in providing financial services companies such as Menafactors with a stable, secure and growth-oriented environment. The DIFC is unique in that it has a legislative system consistent with English Common law and which has developed a complete code of law governing financial services regulation, and as part of its autonomy, an independent judicial system.” Padmanaban also highlights the multiple benefits which Menafactors enjoys as an operator within the DIFC: “The DIFC is a ‘city within a city’ which provides a complete range of business and lifestyle facilities and serves as an important platform for those aiming for access to regional opportunities.”

Development of products to meet changing business needs is the bedrock of Menafactors’ strategy. The company’s human capital is oriented towards customisation, technology and service delivery. The company is focused on continuously identifying market needs and orienting its product strategy to meet them. In pursuit of this objective, the company is actively looking at adding inventory financing in conjunction with the Dubai Multi Commodity Centre (DMCC) amongst others.

“Menafactors has also recognised the benefits of its association with the DMCC in offering inventory financing to commodity traders, and we consider this an innovative structure which can help infuse much needed liquidity into the trade finance market, thereby stimulating the Middle East’s trade growth,” states Bassam Azab, Regional Head of Business Development at Menafactors.

According to Azab, “the DMCC Tradeflow is one of the pioneering platforms of its kind in the region and we are excited to see the benefit/effectiveness of the mechanism, the controls involved that could make it possible for traders to monetise their inventory through institutions seeking a more secure financing environment”.

Azab also outlines the company’s strategic vision: “We are capitalising on our strong regionally-based team and geographic coverage to provide customised trade finance facilities to dealers, distributors, traders and manufacturers. We will also be focusing on building awareness about alternative trade finance solutions in the countries that we operate in by means of regular meetings with clients as well as a range of complementary marketing activities.”

The CEO concludes by stating: “Our strategic focus will remain on trade finance solutions supported by robust technology platforms which cater to businesses at every growth stage. We pride ourselves on our ability to structure our products around our clients’ business needs. Our ability to customise solutions to meet their business requirements makes us a partner of choice. We are privileged to work with some of the leading business houses and indeed cherish the fact that we have been part of their continued growth. Moreover, as a member of the FIMBank group, our global reach extends beyond the Middle East to facilitate our client’s business wherever it goes.”

Menafactors is a Category-2 licensed company based in the Dubai International Financial Centre (DIFC), and is fully regulated by the Dubai Financial Services Authority (DFSA) with operations in Lebanon and Kuwait. The company is a member of the FIMBank Group.