Kotak Mahindra International becomes first Indian firm to receive SCA license for investment and portfolio management in UAE

Kotak Mahindra (International) announced that it has received a license by the Securities and Commodities Authority (SCA) – the capital markets regulator of the United Arab Emirates – to conduct Investment Fund Management and Portfolio Management activitiesWith this approval, Kotak Mahindra (International) became the first Indian firm to receive this license from the SCA, marking a significant milestone in the evolution of cross-border financial services. This development paves the way for the launch of UAE-domiciled funds for retail investors, further reinforcing the UAE’s position as a regional financial and investment hub, according to a press release.

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“We are honored to receive this license from the Securities and Commodities Authority. It is a testament to our enduring commitment to the UAE and our vision of fostering globally integrated, transparent capital markets,” said Shyam Kumar, President and Head, Kotak International.

“India’s economic momentum continues to attract global interest, and through this license, we are excited to offer UAE retail investors access to our India-focused investment strategies – enabling them to participate in one of the world’s dynamic and resilient markets. We will offer India-centric investment options to help investors diversify their portfolios,” Kumar added.

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Kotak Mahindra (International) intends to leverage this license to support the growth of the UAE’s investment fund industry by offering retail-focused solutions. The company plans to launch funds aligned with its successful UCITS (Luxembourg-domiciled) and India-domiciled strategies, with subscriptions expected to open for UAE investors by the final quarter of CY2025.This license reflects Kotak Group’s dedication to co-operate with global regulators to enhance accessibility of capital markets to a larger set of investors. With regulatory approvals in India, the USA, UK, Singapore, Mauritius, and the UAE, Kotak continues to expand its international presence and contribute to the robust financial ecosystem, the release said.Kotak’s move to court retail investors comes amid a deepening financial integration between India and the UAE. In July, Indian Prime Minister Narendra Modi made his seventh visit to the Gulf nation, where he signed key agreements to link India’s digital payment system to the UAE and boost bilateral trade, according to a report by Reuters.Also Read | PPFAS Mutual Fund announces appointment of Tejas Soman as CIO – Debt

Kotak International is the global business arm of the Kotak Group connecting international investors with India’s vibrant growth story. With over 30 years of experience and an AUM of USD 6.08 billion (as of June 30, 2025) the firm offers a comprehensive suite of asset management, advisory, and investment solutions to global clients seeking exposure to Indian markets.

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