Mashreq Capital gets licence to operate from DIFC

DUBAI — Mashreqbank yesterday announced that it has received a licence from the Dubai Financial Services Authority (DFSA) to operate as an authorised firm from the Dubai International Financial Centre (DIFC).

By A Staff Reporter

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Published: Sat 22 Jul 2006, 10:36 AM

Last updated: Sat 4 Apr 2015, 3:14 PM

The licence has been issued to Mashreq Capital Limited, a wholly owned subsidiary of Mashreqbank, and will enable the bank to provide a number of investment and brokerage services for investors. Mashreqbank is the first UAE based bank to receive this licence.

Dr Omar bin Sulaiman, Governor of the DIFC , welcoming Mashreqbank to the Centre, said: "As the oldest private bank in the UAE, Mashreqbank has been a leader, pioneering many of the banking and financial services we now take for granted. Being based in an international financial centre will provide them the ideal opportunity to continue with this tradition. We look forward to more innovations from Mashreq Capital."

"Mashreq Capital will participate fully in the wealth of opportunities made possible by the new regulatory environment provided by the DFSA, which rivals the best in the world," said Abdul Aziz Al Ghurair, CEO of Mashreqbank.

Over time Mashreq Capital will introduce a number of services such as debt or equity capital raising and underwriting services; private placements and the distribution of securities; brokerage in securities and financial instruments and asset management activities.

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