BCMGlobal Appointed to Lead National Financing Support Services in Saudi Arabia

BCMGlobal Takes Charge of Mortgage Sector in Saudi Arabia

BCMGlobal, known as a prominent independent loan and mortgage management company in Europe, is now set to elevate the National Financing Support Services Company (NFSC) in Saudi Arabia. This strategic appointment marks a significant step towards enhancing the efficiency and effectiveness of various financial services within the Kingdom, in line with the ambitious goals outlined in Saudi Arabia's Vision 2030.

Founded under the auspices of the Saudi Real Estate Development Fund (REDF) and the Saudi Housing Refinancing Company (SRC), NFSC is poised to be a central player in the development of mortgage and consumer credit sectors in Saudi Arabia. With BCMGlobal's extensive experience and resources, the company is well-positioned to drive this transformation.

BCMGlobal's Commitment

BCMGlobal is leveraging over 25 years of operational excellence in Europe to establish a strong foothold in the Saudi market. This will involve deploying a highly skilled team, including the appointment of a Services Leader responsible for overseeing the development of NFSC.

The firm's initiatives will include expanding local services while enhancing operational capabilities, which involves plans for strategic recruitment. This strategic move will not only focus on residential mortgage management but will also include consumer loans and business financing products.

Furthermore, BCMGlobal plans to introduce third-party servicing capabilities and manage structured finance facilities, thus directly contributing to the evolving financial ecosystem in the region. By offering a comprehensive suite of services, BCMGlobal aims to provide crucial infrastructure for both national institutions and international lenders seeking to capitalize on Saudi Arabia's vibrant financial landscape.

Industry Response

The engagement of BCMGlobal has already sparked interest among major banks and global investment firms, indicating a positive reception from the wider financial community. Simon Fitness, CEO of BCMGlobal, expressed optimism about this new venture, emphasizing the company’s commitment to embedding itself within the local market. Fitness stressed the importance of creating a robust operational presence and utilizing cutting-edge technology and expertise to deliver world-class services in line with the Vision 2030 objectives.

Paul Burdell, CEO of LCM Partners, highlighted the kingdom's ambitious efforts in advancing its financial markets. He noted that BCMGlobal's knowledge and technological sophistication complement the strategic objectives of its partners, REDF and SRC, contributing to the development of a modern and dynamic financial services sector.

The Bigger Picture

With around 45 billion euros in managed assets spread across five European jurisdictions, BCMGlobal's collaboration with NFSC is a crucial milestone in international expansion for the firm. This partnership not only showcases BCMGlobal's role as a strategic ally but also underscores its potential in nurturing a resilient financial service infrastructure within Saudi Arabia.

BCMGlobal is committed to enhancing its reputation as a leading player in loan servicing, advocating initiatives that support community growth and enable financial access for all citizens. Through this partnership, they aim to foster a sustainable and high-functioning financial services environment within Saudi Arabia’s rapidly evolving landscape.

This strategic appointment by BCMGlobal reflects a significant commitment to shaping a robust financial future for Saudi Arabia, ensuring that the NFSC is well-equipped to lead the market with innovation and excellence in service delivery.

For more information about BCMGlobal, visit www.bcmglobal.com.