Cisco Capital Launches Captive Financing Arm in Dubai to Serve Gulf, North and Central AfricaPress Release 13 Jul 2009 10:21 am
First Major IT Company to Open a Financing Entity in Dubai International Financial Center
Cisco today announced the launch of Cisco CapitalSM (Dubai) Ltd., an arranger of financing solutions licensed by the Dubai Financial Services Authority and based in the Dubai International Financial Centre (DIFC) to arrange financing to enable corporate customers to acquire the latest Cisco® technology.
This launch is part of Cisco’s continuing commitment to economic development in the Middle East and Africa. Cisco Capital (Dubai) Ltd. will help companies build out their information technology infrastructure by accelerating their deployment of Cisco products and services, increasing competitiveness and profitability. Cisco Capital (Dubai) Ltd. will be a regional hub serving customers and partners across the entire Gulf region, North Africa, the Levant and parts of Central Africa. Cisco Capital operates in more than 140 countries across the globe.
Cisco is the first global IT company to open a financing entity in the Dubai International Financial Center Cisco Capital (Dubai) Ltd. will focus on providing end-user financing, including leases and loans for all Cisco products and services under flexible terms. These offers will complement the channel financing that is currently available across the region. With its comprehensive understanding of Cisco technology and an extensive range of financial products, Cisco Capital is uniquely situated to deliver effective financing solutions to enterprises, service providers and small businesses. Financing is available for a variety of Cisco technologies, including unified communications, data center solutions, video and CiscoTelePresence™.
H.E. Dr. Omar Bin Sulaiman Governor of the DIFC said: “I am delighted to announce another first for DIFC’s growing technology infrastructure. The launch of Cisco Capital Dubai will support UAE companies in sustaining the pace of their technology growth and development in a challenging economic environment. DIFC has created a regulatory environment and offers infrastructure and business support for a wide range of financial service providers to base themselves in the financial district. Cisco’s deep domain and financial expertise will complement the diverse pool of services available within DIFC.”
Sam Alkharrat, managing director for Cisco Gulf and Pakistan, said: “Cisco is helping countries in emerging markets modernise their economies to become leaders in the Internet age. . It is critical that companies in this region of the world have access to competitive financing so that they can invest in the latest technology to grow and meet new opportunities as the global economy recovers.”
David Clark, senior executive officer Cisco Capital (Dubai) Ltd., said: “By simplifying the acquisition of the latest technology, Cisco Capital is helping organizations maintain their competitiveness, especially in uncertain economic times. With tailored financing solutions, enterprises can use Cisco Capital offerings to facilitate the purchase or lease of new equipment with the flexibility to adapt as new technology becomes available or as business requirements change, while conserving precious capital and improving profitability.”
The launch of Cisco Capital Dubai Ltd. is aligned with Cisco’s Country Transformation program, a global initiative to help countries in emerging markets to harness the power of technology to achieve national economic and transition development goals. Cisco is bolstering the United Arab Emirates’ evolution as a global center for innovation.