In a significant development for India’s financial services sector, Kotak Mahindra International has become the first Indian company to receive a license from the Securities and Commodities Authority (SCA) of the United Arab Emirates (UAE). This license grants permission for Investment Fund Management and Portfolio Management, opening up new opportunities for cross-border financial operations and enhancing India’s global financial footprint.
About the Milestone License
The approval by the UAE’s capital market regulator marks a pivotal moment in international financial cooperation. The license allows Kotak Mahindra International to launch and manage UAE-domiciled investment funds targeted at retail investors. This not only broadens the scope for diversified portfolio management but also strengthens investor access to Indian expertise in global markets.
With this, Kotak becomes the first Indian financial institution to gain such authorization from the SCA, enabling it to actively participate in and contribute to the UAE’s vibrant financial ecosystem.
Global Presence of Kotak Mahindra
Kotak Mahindra already holds regulatory approvals in India, the United States, the United Kingdom, Singapore, Mauritius, and the UAE. The new SCA license further consolidates its international reach, aligning with its strategy to support a robust, cross-border financial ecosystem. This development reflects the company’s aim to serve a global investor base with a broad range of asset management and advisory solutions.
What It Enables
- Launch of UAE-domiciled investment funds
- Investment and portfolio management for local and international investors
- Broader access for retail investors in the UAE to India-linked financial products
- Strengthened cross-border regulatory alignment and compliance
These capabilities enhance investor confidence and position Kotak Mahindra International as a key bridge between India’s financial services and the Middle Eastern markets.
About Securities and Commodities Authority (SCA)
The Securities and Commodities Authority is the financial market regulator of the UAE responsible for supervising capital markets, regulating investment services, and ensuring investor protection.
- Formed: January 29, 2000
- Headquarters: Abu Dhabi, UAE
- Chairman: Mohamed Ali Al Shorafa Al Hammadi
- CEO: Dr. Maryam Buti Al Suwaidi
The SCA plays a crucial role in fostering transparency, market integrity, and financial innovation in the UAE’s capital markets.
Why This Matters for Exams
This development has high relevance for competitive exam aspirants, especially in economics, banking and finance, and international relations sections:
- First Indian firm to get SCA license
- Expands India’s financial influence in the Middle East
- Encourages foreign retail investment through Indian-managed funds
- Highlights cross-border regulatory cooperation
- Showcases the growth of India’s international financial services sector