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Thu 16 Jul 2009 02:45 PM

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Cisco opens regional financing entity in Dubai

Licensed by the Dubai Financial Services Authority, the organisation will provide a range of leases and loans under “flexible terms”.

Cisco opens regional financing entity in Dubai
Samer Al Kharrat says the availability of flexible financing will help emerging markets to adopt new technologies

Cisco Capital has opened a local branch in Dubai in a move that promises to benefit the channel by making it easier for corporates to fund the purchase of networking equipment from the vendor.Cisco CapitalSM (Dubai) Ltd will arrange financing to enable commercial end-users to acquire its latest technology, serving as a regional hub for customers and partners across the entire Gulf region, North Africa, the Levant and parts of Central Africa.

The organisation, which is licensed by the Dubai Financial Services Authority, plans to provide a range of leases and loans for its products and services under “flexible terms”. It says the offers will complement the channel financing that is currently available across the region.

David Clark, senior executive officer at Cisco Capital Dubai, claims that by simplifying the acquisition of its products, the company is able to help organisations retain their competitiveness in the tough economic climate.

“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,” he said.

Sam Alkharrat, managing director at Cisco Gulf and Pakistan, insists the availability of IT financing will help emerging markets to develop quicker: “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."

Cisco claims it is the first major IT company to open a financing entity in Dubai International Financial Centre (DIFC).

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