NCM wins SCA licence to operate in UAE

Inayat-ur-Rahman, Business Editor

NCM Investment Company has announced that it has been granted a Category 1 licence from the UAE Securities and Commodities Authority “SCA”.

The granting of a Category 1 license represents a significant milestone and major step forward for NCM, demonstrating the Group’s unwavering commitment to delivering exceptional services to its clients and solidifying its leadership position in the Middle East.

NCM is a key holding of Eshraq Investments’ Goldilocks Fund, which acquired a 51% majority stake in 2022. The granting of the SCA Category 1 license is directly supportive of Eshraq’s philosophy of investing in highly attractive and innovative regional assets that demonstrate compelling growth potential, with the Goldilocks Fund’s mandate to invest in undervalued companies that it believes are intrinsically mispriced, and will generate competitive and consistent long-term returns - including in the region’s burgeoning Financial Services and Tech sectors.

NCM has played a pioneering role in the industry and always endeavoured to empower the trading community by delivering innovative digital solutions and providing access to diverse investment opportunities within a safe, secure and transparent trading environment.

Commenting on the awarding of the license NCM Co-founder and Vice Chairman Naser Al Marri said: “The granting of our SCA Category 1 licence, which marks NCM’s expansion into the UAE, and the opening of our new offices in Dubai, are a testament to our commitment to the region. We are focused on delivering the highest industry standards and committed to providing safe and regulated access to international financial markets. This license enables NCM to expand its range of investment opportunities, underscoring its commitment to fostering an environment of complete trust and transparency.”

NCM Co-founder and Group Chief Executive Officer Khurram Sayeed commented: “Our SCA Category 1 licence is a recognition of NCM’s strong track-record and significant accomplishments over the years. The license represents an important milestone in our growth journey, and is aligned with our focus on expanding investment horizons and delivering exceptional client services. NCM’s commitment to developing innovative products, coupled with its competitive pricing and trusted reputation in the market are key contributors to our success story. We are extremely proud of this achievement and remain focused on enhancing and diversifying our services across key markets, most of which represent significant future growth opportunities as we provide clients with a dynamic, secure and transparent platform.”