Al Masah receives DFSA licence
Dubai, September 5, 2010
Al Masah Capital Management Limited (AMCL), an upcoming player in the regional alternative asset management space, has won a full service licence to operate from the Dubai International Financial Centre.
Al Masah described it as a significant milestone for the company after receiving the licence from Dubai Financial Services Authority to function as a Category 3 licensed entity.
The licence will allow AMCL to widen its core activities and include managing assets, arranging credits or deals in investments and advising across multiple asset classes such as listed equities, private equity and real estate.
Investment solutions will be geared towards current market needs and developed in anticipation of future trends.
With this, Al Masah Capital is placing itself at the forefront of the next market evolution with a goal and ambition to be a market leader in the new regional order, said a top official.
Marwan Lutfi, deputy CEO and head of Business Development, DIFC Authority said, “We are pleased to note that Al Masah Capital Management Limited has chosen Dubai as their base to operate across the Middle East and Africa and South Asia region.'
'We wish them the very best and offer all support for their continued success as we welcome them to the DIFC family,' he added.
AMCL founder and CEO Shailesh Dash expressed delighted at receiving the Category 3 DFSA licence.
'The licence gives us the right foundation and the ideal regulatory environment to put in place an impeccable track record and also comes at a time when the market is stabilizing, things are looking up regionally and our client base is looking to move off the sidelines and into attractive investment opportunities,' he noted.
'We have a powerful executive and advisory board and a dynamic and proven professional investment team and this credible base is attracting clientele across the region for what we see as a very positive future for investors.'
“Our faith in this region’s resurgence is unequivocal and we are very confident that Al Masah Capital Management Limited will be one of the frontline players,” he added.
According to Dash, AMCL brings with it a promise of creating a fresh and viable value added option to economic investment.
'It intends to take investment options to a more dynamic level and offer its client base a service and performance that is a benchmark for sustainable future growth,' he added.-TradeArabia News Service