Article

Dubai Multi Commodities Centre (DMCC) won Euromoney's Finance Deal of the Year Award for innovative structured financing solutions in a deal that featured two inventory financing deals secured using the Dubai Commodity Receipt (DCR), DMCC's electronic warehouse receipt system. National Bank of Fujairah (NBF) arranged the financing transactions for Greek contracting company, Athena SA. Under the terms of the DCR, members storing physical commodity assets in a DMCC-approved warehouse - or who assign control over their goods to an approved collateral manager - can be issued a DCR against the value of that commodity. The member can then use the warehouse receipt to obtain finance from member banks.