Kotak Mahindra Financial Services Limited, a part of the Kotak Mahindra Group, has got the Dubai International Financial Centre (DIFC) licence enabling it to arrange credit or deals in investment, advise on financial products and credit, and arrange custody from its DIFC-based office.
The licence has been awarded to Kotak by the Dubai Financial Services Authority (DFSA) giving it a chance to expand its Middle-East operations.
Abdulla Mohammed Al Awar, CEO of the DIFC Authority said: "The establishment of Kotak Securities' subsidiary in DIFC, points to the growing investment and financial industry ties between India and the UAE. With both countries playing, increasingly larger roles in the international economy, there are growing opportunities for partnerships between companies in the financial services sectors. The establishment of large financial institutions from India like Kotak Securities in DIFC will help tap these exciting opportunities."
Somer Massey, CEO, Kotak Mahindra Financial Services said: "India has long been an attractive market, and we are delighted that investors based in the Middle-East can now access information on various investment opportunities available in India through our office in DIFC."
