FIMBank and Lenovo Financial Services in strategic partnership

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FIMBank, a Malta-based international trade finance specialist, and United Arab Emirates-based Lenovo Financial Services META LLC (LFS) have entered into a landmark cooperation agreement that aims to provide a long-term strategic financing program to distributors IT systems from LFS across the Middle East.

Significantly, the partnership strategically aligns the two parties over the long term by combining the strength of the LFS distribution network and the credit expertise of FIMBank. This innovative partnership builds on the respective strengths of both parties to create compelling value for both institutions.

The program, designed to support the working capital cycle of major IT distributors in the Middle East, Turkey and Africa region, is expected to accelerate the growth of both parties in this growing IT distribution sector. . As part of this program, FIMBank will support distributors by extending the period of credit received by reputable sellers under the financing agreement.

The partnership builds on the respective strengths of both parties

The partnership was established during the COVID-19 pandemic, where the world saw significant change and adoption of technology to support the connectivity and flexibility of environments and workplaces. The program supports the increased working capital requirement of distributors driven by strong demand. The Distributor Funding Program is unique in nature, as it is designed to quickly optimize support for working capital generated by increased IT sales.

Kamel Moris, Commercial Director of FIMBank, said: “We are extremely honored to partner with LFS whose goal is to make investing in technology more accessible and greener. LFS innovative payment solutions such as RecylceIT and BuyIT Back support regional and international sustainability initiatives, prevent technology obsolescence and eliminate IT waste through the reuse, reuse and recycling of IT products. This is a very important sector that supports and benefits the global economy. Going forward, we aim to further support global trends in digitization, seeking to pursue similar strategic partnerships. “

John Knibbs, Managing Director of LFS, commented: “Our collaboration with FIMBank has provided our partners with a unique solution that improves free cash flow and working capital when they are needed most.

“We are delighted to have forged a strong relationship with a financial partner who shares the same vision and strategy in delivering real value and solutions to our clients and partners across the region. “

For more information on FIMBank plc, visit www.fimbank.com.

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