2 days ago
First For India: Kotak Mahindra Wins UAE License To Launch Local Funds
Last Updated:
Kotak Mahindra (International) Limited got a UAE license for Investment Fund and Portfolio Management, becoming first Indian firm to offer UAE-domiciled funds to retail investors.
Kotak Mahindra (International) Limited ('KMIL"), a wholly owned subsidiary of Kotak Mahindra Bank Limited, today announced that it has been granted a license by the Securities and Commodities Authority ('SCA") – the capital markets regulator of the United Arab Emirates – to conduct Investment Fund Management and Portfolio Management activities.
With this approval, KMIL becomes the first Indian firm to receive this license from the SCA, marking a significant milestone in the evolution of cross-border financial services. This development paves the way
for the launch of UAE-domiciled funds for retail investors, further reinforcing the UAE's position as a regional financial and investment hub.
'We are honored to receive this license from the Securities and Commodities Authority. It is a testament to our enduring commitment to the UAE and our vision of fostering globally integrated, transparent capital markets," said Shyam Kumar, President and Head, Kotak International.
'India's economic momentum continues to attract global interest, and through this license, we are excited to offer UAE retail investors access to our India-focused investment strategies – enabling them to participate in one of the world's dynamic and resilient markets. We will offer India-centric investment options to help investors diversify their portfolios."
KMIL intends to leverage this license to support the growth of the UAE's investment fund industry by offering retail-focused solutions. The company plans to launch funds aligned with its successful UCITS (Luxembourg-domiciled) and India-domiciled strategies, with subscriptions expected to open for UAE investors by the final quarter of CY2025.
This license reflects Kotak Group's dedication to co-operate with global regulators to enhance accessibility of capital markets to a larger set of investors. With regulatory approvals in India, the USA,
UK, Singapore, Mauritius, and the UAE, Kotak continues to expand its international presence and contribute to the robust financial ecosystem.
view comments
First Published:
Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
