2 days ago
UAE: First finfluencers hail new licence, say will reduce misinformation
Regulating financial advice given on social media will help reduce misinformation, UAE's first finfluencers said to Khaleej Times days after the Securities and Commodities Authority (SCA) licensed them. The region's first finfluencer license aims to regulate digital financial content.
The initiative seeks to establish a governance framework for individuals offering investment analysis, recommendations, and financial promotions across digital platforms.
On June 3, the SCA published its first list of 10 licensed finfluencers authorised to create financial content in the country. Many of these individuals come from backgrounds in banking, law, or finance, leveraging their expertise to educate the public and inspire informed financial decisions.
Muhammad Alamer, one of the ten finfluencers listed by the SCA, noted that financial content in the UAE has significantly blossomed in recent years. 'In recent years, financial content in the UAE has matured significantly, driven by increased investor education, regulatory enhancements, and the growing presence of specialised professionals,' he stated, emphasising a shift toward prioritising quality over quantity, with a focus on credibility and actionable insights.
On the SCA finfluencer license, Muhammad remarked that it would help reduce misinformation. 'This regulation will enhance trustworthiness, encourage professional standards, and ultimately benefit investors and the broader financial community,' he added. 'This regulatory initiative is expected to promote higher professionalism and mitigate misinformation, positively shaping the UAE's financial advisory landscape toward greater transparency and investor protection.'
As a private wealth specialist, trader, and investor with 17 years of experience in UAE banks, his journey into financial advisory stemmed from a deep interest in understanding market dynamics and leveraging technology to enhance decision-making processes, particularly through advanced analytical tools and artificial intelligence. He works closely with ultra-high-net-worth individuals to grow and preserve their wealth, sharing insights through his LinkedIn platform.
Mohammed Al Hattawi, another finfluencer listed by the SCA, entered the field of financial content out of passion. He emphasised the significance of the SCA's licensing decision, describing it as a crucial and timely measure that enhances credibility and ensures that those providing financial content are held to both legal and moral standards. 'The license boosts credibility, as it is issued by an official government agency, instilling greater confidence among followers. I appreciate the rigorous requirements for obtaining it, as they ensure that influencers are qualified and trustworthy.'
He stated, 'I began my journey in financial content because of my lifelong passion for investing and my realisation that many people needed accurate information, free from misinformation.' The SCA's initiative aims to enhance transparency, trust, and regulation in the rapidly expanding world of financial content. 'My love for the field and my desire to be a trusted source of clear information motivated me to become a finfluencer,' he explained.
'As a financial influencer, my role extends beyond merely sharing information; I aim to inspire people to think critically about their financial decisions, basing them on understanding rather than emotion.' With a background in law and currently pursuing a PhD in Political Science and Economics, he observed that financial content in the UAE has evolved from basic concepts to a truly informed community.
Industry experts have also welcomed this decision. While not a finfluencer himself, Ali Abuamriyeh, a Forensic Accounting & Financial Litigation Advisor, stated, 'The UAE's finfluencer license is a timely regulatory step that introduces structure, accountability, and transparency to the fast-growing digital financial content space, particularly in high-risk areas like cryptocurrency and speculative assets.'
He believes this move aligns with the UAE's broader efforts to establish a resilient and well-regulated financial ecosystem. 'Similar to licensed investment advisors, finfluencers will now be required to meet clear standards. They must disclose their identity, credentials, affiliations, and the basis of their advice, ensuring that content is based on fact rather than hype or emotional persuasion.'
From a forensic and litigation perspective, he highlights several key benefits: Transparency is enhanced through mandatory disclosures, providing a clearer view of a finfluencer's intentions and interests. Legal accountability is reinforced, as oversight from the SCA introduces an enforcement mechanism to deter irresponsible or deceptive advice. Additionally, licensing requirements create a digital audit trail, improving the quality and admissibility of content in legal investigations.
