Abu Dhabi’s financial regulator has issued Gulf Capital a licence to carry out asset management activities.
The financial services permit issued by the Financial Services Regulatory Authority (FSRA) will enable the UAE-based firm to manage investment funds and assets from the Abu Dhabi Global Market (ADGM).
Gulf Capital was launched in 2006 and currently has around US$2.4 million in assets under management.
“We are committed to expanding our presence in Abu Dhabi and to basing our global headquarters in the prestigious ADGM,” said Gulf Capital chairman Hareb Al Darmaki.
“Receiving a full asset management licence from FSRA will help us meet investors’ increasing demand for more regulated and transparent asset management activities within an established world-class financial centre.”
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