Arab News, Mon, Apr 01, 2024 | Ramadan 22, 1445
Kamco Invest Saudi partners with Flexam to introduce European leasing opportunities
Saudi Arabia:
Saudi investors will gain access to Shariah-compliant leasing opportunities in
Europe’s logistics and transportation sectors following a partnership between
Kamco Invest and Paris-based Flexam Invest.
The Saudi arm of Kamco Invest, a Kuwait-based
non-banking financial powerhouse, signed a memorandum of understanding at its
regional headquarters in Riyadh with the European asset financing firm
specializing in small and medium enterprises, aiming to assist local investors
with innovative investment solutions.
Mohammed Al-Faris, CEO of Kamco Invest Saudi,
said: “We are thrilled to embark on this partnership with Flexam, which
represents an additional milestone in our mission to diversify and enrich our
investment offerings.”
According to a press statement, the leasing
strategy is expected to leverage opportunities within the logistics and
transportation sectors, with a focus on the decarbonization of new and existing
assets.
The statement further noted that the agreement
represents a significant step to broaden Kamco Invest Saudi’s portfolio of
Shariah-compliant offerings.
He added: “This collaboration will allow us to
offer our clients innovative investment solutions that are Shariah-compliant
while simultaneously contributing to a sustainable future. We believe that this
partnership will deliver exceptional value to investors through a managed risk
approach.”
The CEO emphasized that the MoU signifies Kamco
Invest Saudi’s ongoing commitment to innovation and dedication to meeting the
needs of its clients.
“It highlights the company’s strategic direction
toward expanding its presence in the private markets sector, offering a wider
array of investment opportunities that adhere to the highest standards of
compliance and ethical investment,” he said.
Fabrice Fraikin, managing partner of Flexam, said
that this partnership will help the real asset financing company showcase its
track record and penetrate into Saudi Arabia’s local market.
“Our collaboration is based on a mutual
understanding of the importance of sustainable investment solutions that comply
with Shariah laws. We are excited to leverage our expertise in real asset
financing to contribute to this unique offering, aiming to set new standards in
the leasing sector and support sustainability efforts in the logistics and
transportation industries,” he added.
Flexam specializes in asset financing for SMEs in
Europe, particularly in the transportation and logistics sectors, boasting
approximately $7 billion in assets under management.