Avocom Law Firm for Siraj Finance PJSC in the project financing for China Union Pay credit cards

Avocom Law Firm Llp advised Siraj Finance PJSC (SF), a private joint stock company based in Abu Dhabi and regulated by the UAE Central Bank, in the negotiations for the implementation of a project finance and the obtaining of a loan from the investment company CITIC Holding IF Group LLC together with some institutional investors, 100 Million USD worth.

Avocom team includes Francesco del Bene as Lead Partner together with Ian C. Hughes, a legal advisors. Co-advisor has been Coral International Commercial Agency of Abu Dhabi.

The negotiations aim to implement the China Union Pay Credit Cards project, whose scope is a forwarding looking prospect to become one of the first Credit Card Issuer in the region with the Union Pay International (UPI) network. 

As an integral Partner to the dynamic payment landscape, SF – part of Trizac Holding LLC (THL), which is an integral entity of the Al-Otaiba Group of Companies – intends to create a niche in the payment industry that has an embedded technology readiness with AI and Card less operations in a secured and economical payment mechanism. With extended service-oriented propositions and loyalty bridged incentive programs, some of the key projections would include the facilitation of UAE’s strategic priorities and roadmap in the Smart Governance and Digitalized platform. 

Involved fees earner: Francesco del Bene – Arkios Legal; Ian Hughes – Avocom;

Law Firms: Arkios Legal; Avocom;

Clients: Siraj Finance;

Author: Federica Tiefenthaler