UAE’s IHC to Invest $1bn in India’s Sammaan Capital, Boosting Mortgage Lending and Financial Inclusion

The International Holding Company (IHC), based in the United Arab Emirates, has announced a significant investment of $1 billion in Sammaan Capital Limited, a prominent non-banking financial company (NBFC) in India. This investment highlights IHC's confidence in the Indian financial sector, particularly in its capacity to enhance mortgage lending and promote financial inclusion. Sammaan Capital, which is listed on both the Bombay Stock Exchange and the National Stock Exchange of India, operates through a network of 220 branches across more than 150 towns and cities, employing over 4,430 individuals. The company is instrumental in facilitating home ownership and improving access to credit, especially for communities that are often underserved. India continues to be one of the fastest-growing major economies globally, with non-banking financial companies playing a crucial role in addressing the gap between traditional banking services and the increasing demand for credit. The sector benefits from robust regulatory oversight by the Reserve Bank of India, which positions it well to sustain economic growth and enhance financial inclusion. IHC's investment is seen as a testament to its belief in India's long-term growth potential. The company aims to broaden access to capital, accelerate innovations in credit, and support inclusive development initiatives. The CEO of IHC expressed that India is a key strategic market, noting the impressive leadership of Sammaan Capital in promoting home ownership and empowering small businesses throughout the country. In response, the Chief Executive Officer of Sammaan Capital highlighted the company's journey characterized by resilience and adaptability. He expressed optimism about the partnership with IHC, viewing it as an opportunity to explore new avenues for growth. The alignment of aspirations between the two organizations is expected to invigorate their efforts in the financial sector. The transaction is contingent upon receiving regulatory approvals from the Reserve Bank of India, the Competition Commission of India, and fulfilling other customary closing conditions. This investment not only strengthens IHC's global portfolio but also deepens its connections with India, a market recognized for its dynamism and potential.

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