DIFC welcomes The National Investor, the first UAE based investment bank to receive a licensePress Release 23 Jan 2006 10:37 am
The National Investor (TNI), the first UAE based investment bank, has obtained license from the Dubai Financial Services Authority to operate as an authorized firm from the Dubai International Financial Centre (DIFC).
Dr Omar Bin Sulaiman, Director General of DIFC Authority, commented: “We welcome our first UAE based member to the DIFC. The fact that the DFSA has licensed TNI, reflects a sophisticated level of service and the high standards of the organization. We look forward to welcoming more GCC and UAE based organizations. The GCC is one of the fastest growing markets in the world in terms of financial services. The DIFC, guided by its principles of efficiency, integrity and transparency has set world class standards in the region which has attracted some of the top financial institutions and blue chip organisations in the world.”
Commenting on the license, Chairman of TNI, Mr. Abdullah Mazroui, stated: “We are very proud to become the first UAE company that has been granted a license by Dubai Financial Services Authority (DFSA). This step marks another significant milestone in our development, reflecting our growth strategy towards becoming one of the most progressive banking institutions in the region”.
Mr. Orhan Osmansoy, Chief Executive Officer, TNI, added: “This license is a testament to our robust governance policies and procedures, reflecting our ability to meet high performance standards of the DFSA. TNI intends to leverage DIFC’s positioning as a world-class financial centre to bring local, regional and international companies for either a primary or secondary listing on Dubai International Financial Exchange (DIFX)”.
The company also intends to become a member of the DIFX in the future.
With a strong track record across investment banking and asset management activities, The National Investor will provide a full range of services to its clients as permitted by the license. The firm which is renowned for its leading position in IPO mandates will be expanding its investment banking capabilities and increasing its focus on its asset management offering. In recognition of TNI’s investment banking achievements, TNI was awarded the prestigious “Best Equities House in UAE” award by Euromoney in 2005. TNI was also awarded the prize for “Best Private Equity House in the Middle East” by Bankers Middle East in 2005.