Gulf Capital granted investment company licence by central bank

ABU DHABI — Abu Dhabi based Gulf Capital, a private joint stock company, has been granted an investment company licence by the UAE Central Bank.

By A Staff Reporter

Published: Tue 17 Jul 2007, 9:15 AM

Last updated: Sat 4 Apr 2015, 10:20 PM

The new licence will allow Gulf Capital to enter the asset management and investment banking arenas.

Securing the investment company licence is an important milestone for Gulf Capital as it prepares for the launch of its alternative asset management platform and the marketing of a new regional private equity fund.

Initial approval for the investment company licence was granted by the central bank in July 2006, conditional on the approval of all shareholders which was obtained at the company's last extraordinary general assembly on June 10, 2007.

The licence means that the firm's operations will be supervised by the central bank, ensuring compliance with their rules and regulations.

Commenting on the new Licence, Hareb Al Darmaki, chairman of Gulf Capital, said: "Securing the investment company licence is a significant milestone for Gulf Capital as it will allow us to expand into new areas of activity such as asset management and investment banking. We have a strong commitment towards corporate governance and are already working towards meeting the central bank's requirements and regulations."

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