Dubai - Mubasher: Dubai Multi Commodities Centre (DMCC) welcomed FIMBank to its Tradeflow platform after signing a membership agreement at its Almas Towers headquarters, according to a press release.
Fimbank is a member of Kuwait’s KIPCO Group and operated in the Middle East through its branch at Dubai International Financial Centre (DIFC).
The platform enables banks, financiers and suppliers to manage and mitigate potential risks across the commodity value chain through an enforceable and transparent legal framework.
Trade finance globally reached $1.6 trillion deficit, with the biggest gaps hitting developing and emerging economies in Africa and Asia, according to recent studies.
Over the last five years, DMCC Tradeflow transaction values grew exponentially with total trades in 2016 alone reaching a value of $15.8 billion. In addition the platform recorded a total value of $15.8 billion in 2016, a value increase of 405% compared to 2015.
