Mena Factors ‘Best Factoring House’ for second year running

For the second year running, Mena Factors, a member of the FIMBank Group, has been awarded the title of Best Factoring House by international trade finance magazine Global Trade Review (GTR). Based in the Dubai International Financial Centre (DIFC) and fully regulated by the Dubai Financial Services Authority (DFSA), Mena Factors is the leading standalone provider of Factoring and Forfaiting services in the Middle East with the ability to support the Trade Finance needs of varied businesses in the region.

This year’s award is particularly significant in view of the new criteria introduced by GTR in the selection of successful candidates for its awards. As of this year, the magazine’s editorial board has been asked to run a vote across the award categories based on their professional and market experience in 2013. The institutions represented on the editorial board include the Encore Group, Barclays, Miller, RBS, Falcon, the DMCC, Citi, HSBC, NBAD and ADCB.

Commenting on the award, Mena Factors CEO Anand Padmanaban said: “We are very proud to have received this prestigious acknowledgment of our services from other major financial institutions in the market. At Mena Factors, we pride ourselves on our ability to structure our products around clients’ business needs, and during 2013, we managed to extend our operational footprint to their benefit. As part of the FIMBank Group, however, our global reach extends beyond the Middle East to facilitate our clients’ business, wherever it goes.”