The Securities and Commodities Authority (SCA) of the United Arab Emirates (UAE) has granted Equiti, a leading securities broker, an Over-The-Counter (OTC) Category One license. The authorization will allow Equiti to offer its clients a broad range of products and services, including equities, fixed income, foreign exchange, and derivatives.
The license further strengthens their licensing in the Middle East and puts them on par with any other top-tier global financial market regulator.
The SCA has stringent requirements for the license, including a higher paid-up capital. However, this allows Equiti to contribute to the UAE’s flourishing success and its progressively developing financial sector.
Iskandar Najjar, Equiti Group’s Co-Founder and CEO, said: “Our vision is to create a best-in-class client experience, and regional oversight by the UAE’s global standard of regulation is core to achieving this.”
This new license will allow Equiti to offer a wide range of products and services to their clients in the UAE. It includes foreign exchange spot markets and Over-the-Counter (OTC) derivatives.
Strengthening the Licensing Arsenal
Equiti Group is licensed in several jurisdictions beyond the UAE, including the United Kingdom, Jordan, Kenya, Seychelles, and Armenia, as a heavily regulated broker group.
With around 80 employees already in place in various roles within the UAE entity of the group, the announcement of the new UAE SCA license provides great assurance to clients in the region that they are dealing with a progressive and reliable broker.
CEO of Equiti Securities Currencies Brokers and Co-founder of Equiti, Mohamed Al-Ahmad, stated, “With our new UAE SCA license, clients in the Middle East may now be certain that they are dealing with one of the most well-regulated and forward-thinking securities firms.”
Gaurang Desai, Managing Director of Strategy for the Equiti Group, spoke highly of the UAE’s commitment to developing a strong investment industry that includes digital assets.
He praised the nation for being “a pioneer in drafting regulation” and congratulated them on their leadership role in expanding the industry worldwide.
Desai expressed his excitement about working with UAE regulatory bodies to create an investment environment that is both safe and sustainable.
It is clear that Desai believes strongly in the UAE’s ability to create positive change within the global investment community, and Equiti Group is proud to be a part of that change.
