LONDON, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Mr. George Matharu, President and CEO of Elite Capital & Co. Limited, announced today that Elite Capital & Co. has invented a totally new financing system for the global markets under the code EXIM+F (Export and Import in addition to Finance.)
“The traditional system (EPC+F) used for many financial transactions around the world depends on the financiers pushing the borrowers to use the financier's contractors and the project contents through them to maximize the benefit that accrues to the financiers, while this issue constitutes a burden for the borrowers who may wish to implement the projects independently for their own economic or security reasons specific to the country. This spawned the idea of the new system, which is that we finance the supply of specific parts of the borrower’s project, for example, financing a specific production line within the project with the EXIM+F system instead of forcing the borrower to finance the entire project with the EPC+F system. So, in short, the financing concept is summarized according to the EXIM+F model, deploying the relevant criteria and repayment system by financing any import of government project content designated by the country up to 100% of the value. The Government Future Financing 2030 Program then studies the possibility of broader financing,” Mr. George Matharu said.
Elite Capital & Co. Limited is a Financial Management company that provides project-related services, including Management, Consultancy, and Funding, particularly for large infrastructure and mega commercial projects.
Elite Capital & Co. Limited offers a wealth of experience in Banking and Financial transactions and has a range of specialized advisory services for private clients, medium and large corporations as well as governments. It is also the exclusive manager of the Government Future Financing 2030 Program®.
Dr. Faisal Khazaal, Chairman of Elite Capital & Co. Limited, and the Head of Government Future Financing 2030 Program, added, “A medium or long-term bank guarantee will be financed by the Government Future Financing 2030 Program for importing the government project content, thereby relieving the Ministry of Finance from the burden of issuing sovereign guarantees for the projects, and it also gives the guarantee issuing banks ample scope in assessing the risks of issuing bank guarantees because there is a medium to long term payment obligation on its client in return for issuing those guarantees. This gives the project room and space to start production and collect profits in preparation for repayment, which enables the risk assessment department in the banks to streamline the approval process for issuing guarantees.”
Elite Capital & Co. Limited has designed and launched the first one-of-a-kind financial system under the name ‘Government Future Financing 2030 Program’ on the 15th of January 2020 to provide financial support rather than lending to Governments.
Under this program, Elite Capital & Co. and its governmental portfolios sign agreements with the respective Government to support the country’s National Projects, by providing up to 80% of the financing needs of those National Projects without burdening the Ministry of Finance with sovereign loans. In return, the Government announces the projects on a bidding basis by inviting all local companies and international consortia, to bid for up to 20% remaining funding, construction, and project operations, thereby ensuring fairness, equality, and transparency according to the rules, regulations, and laws applicable in the respective country.
Mr. George Matharu concluded his statement by saying: “Elite Capital & Co. is ensuring that the ministries or governmental entities obtain the best offers and financing benefits that cannot normally be obtained otherwise by such methods as diplomatic channels or conventional political means. The government will deal with the Government Future Financing 2030 Program as sole contact party meaning that it will be able to communicate with one entity approved by the entire G20, and will not need to communicate with every country individually, as this is a tremendous saving in administrative effort and negotiation at the diplomatic level.”
Elite Capital & Co. – Contact Details –
Elite Capital & Co. Limited
33 St. James Square
London, SW1Y4JS
United Kingdom
Telephone: +44 (0) 203 709 5060
SWIFT Code: ELCTGB21
LEI Code: 254900NNN237BBHG7S26
Website: ec.uk.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/50208901-6ef1-4417-a3ab-3ea99980e5a3
