With an initial capital of 60 million AED Al Qudra Holding pjsc and the Kuwait-based Company for Credit Rating and Collection (CRC) signed MoU to launch of Al Qudra Credit Rating and Collection’ –CRCQ, a new company specializing in supporting initiatives issued by the government. Whilst focusing its business on offering various consultancy and financial services, CRCQ will also be involved in the design and implementation of financial studies and will collect and purchase commercial debts.
Commenting on the establishment and launch of CRCQ, Engineer Salah Salem Bin Omair Al Shamsi, Chairman of Al Qudra Holding stated; “By joining our group of companies at Al Qudra Holding, CRCQ represents a real translation of our aspirations and ambitions towards comprehensive investment solutions, through the provision of a complete range of services that support successful investments locally and regionally. We realize the importance and fragility of the role that the financial sector plays in the nation’s economy; we are positive that QCRC will provide substantial support in offering financial services and consultancy.”
“CRCQ will contribute to the enhancement of Al Qudra Holding’s positioning and affirming the strategic relationship between Al Qudra Holding and its partners in the Gulf region. We are determined to continue our mission by founding more companies as planned, in view of actively participating in the actualization of economic prosperity in the UAE,” add Engineer Al Shamsi.
“CRC’s strategic alliance with Al Qudra Holding is considered an important step in the Kuwaiti company’s portfolio,” said Moustafa Saleh, Vice Chairman of CRC. “We believe that this partnership will fulfill our company’s expansion objectives. The UAE economy is witnessing important and swift growth, among which is the comprehensive development of the collection industry. This is an advanced method that supports performance in the financial and commercial sectors through the collection of late payments in a professional manner.”
Headquartered in Abu Dhabi, the objectives and activities of CRCQ will cover different aspects of financial services and consultancy offered to commercial companies. These activities will involve the preparation of financial reports on rates and credit collection processes. The company will be instrumental in enhancing, using and offering debt collection and purchasing processes for clients which will specialize in designing studies, gathering and distributing up to date information, and financial rating services.
