Kuwait established CFDs intermediary NCM Investment Company KSCC has make publiced that it has been granted a Category 1 license from the UAE Securities and Commodities Authority (SCA).
The company said that the concurrence of a categorization 1 license constitute a significant milestone and major step forward for NCM, demonstrating the Group’s unwavering responsibility to delivering exceptional services to its clients and consolidate its leadership position in the Middle East.
NCM is a key holding of Eshraq speculation Goldilocks Fund, which acquired a 51% majority stake . 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’s announced its founder-led management team has an magnificent track record of driving global expansion, and has long embedded a culture of working closely and beneficially with regulators. The SCA classification 1 license enables the launch of synchronized performance in the UAE, which is a key strategic step and supports the Group in pivoting and stimulating its global growth aspirations, widening its geographic footprint in modulated dominion