CFI Adds Category One SCA License in the UAE
UAE, Dubai – 24th November 2023: CFI Financial Group recently announced the addition of its newest Category One license, awarded by the UAE’s Securities and Commodities Authority (SCA).
The new license comes as CFI’s second in the country, adding to the Group’s impressive arsenal of regulatory support in several other jurisdictions, including the United Kingdom, Cyprus, Lebanon, Jordan, Egypt, Palestine, Oman, Mauritius, and other jurisdictions.
Following the announcement, CFI’s Co-founder and Managing Director, Hisham Mansour commented: “Obtaining the SCA license is a major milestone for CFI. Category one is the highest category license for our business with the highest paid-up capital requirements. It highlights our dedication to delivering safe and regulated access to the financial markets, and affirms our objective to remain side by side with our clients in the UAE. The addition of this license further empowers our position in the region and allows us to serve our clients better”.
“This marks our fifth entity launch this year, following our successful expansions into Egypt, Kuwait, Palestine, and Oman. Consequently, we now stand as the leading broker in MENA, holding the largest number of licensed entities in the region.” Hisham added.
The move also represents a significant step in CFI’s growth in the region, backing its commitment to offering exceptional trading services for its clients with trust and transparency at its core.
The SCA license is an esteemed value for CFI, being granted in the same country as the Group’s Dubai headquarters. As a region fueled by innovation and technological advancement, the UAE has proved to be the ideal location to serve CFI’s client base in the Middle East. The addition of its new SCA license is now set to extend the Group’s growth not only in the UAE but also in the wider MENA region.
“The UAE is our home. Our aim is to leverage the region’s stability and extensive growth to provide the best in terms of our products, platforms, trading tools, and client service. Not only that, but as CFI looks to expand and solidify its position in MENA, we believe that gaining regional oversight from one of the UAE’s most respected financial regulators is key to achieving this.” Nidal Abdel Hadi, CFI Dubai’s SCA licensed entity Chief Executive Officer, commented.
Since its establishment in 1998, CFI has worked to provide a secure, safe, and transparent medium to the global markets without compromising on market access and trading flexibility.
CFI’s latest SCA license is proof of that, not only providing an added layer of security and protection for trading clients, but also bringing unmatched access to the global markets in terms of instruments, tools, and trading resources.
With this, CFI ensures the optimal trading conditions for its clients, with the tools they need to succeed in the global financial markets.
