Kuwait based CFDs broker NCM Investment Company KSCC has announced that it has been granted a Category 1 license from the UAE Securities and Commodities Authority (SCA).
The company said that 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’s said its founder-led management team has an impressive track record of driving global expansion, and has long embedded a culture of working closely and constructively with regulators. The SCA Category 1 license enables the launch of regulated operations in the UAE, which is a key strategic step and supports the Group in pivoting and accelerating its global growth aspirations, widening its geographic footprint in regulated jurisdictions.
NCM already operates in Kuwait, Jordan, Turkey and Malaysia.
Commenting on the awarding of the license NCM Co-founder and Vice Chairman Naser Al Marri said:
“The granting of our SCA Category 1 license, 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. We remain committed to our mission to empower the trading community with innovative and trustworthy solutions, whilst also unlocking new opportunities in financial markets.”
NCM Co-founder and Group Chief Executive Officer Khurram Sayeed commented:
“Our SCA Category 1 license 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.”
About NCM
Established in Kuwait in 2009 the NCM Group is regulated in 5 jurisdictions (Kuwait, UAE, Jordan, Turkey, Malaysia) with 7 global offices, and a diverse workforce of over 200 employees represented by more than 25 nationalities. NCM delivers international scale through localised services, empowering its geographically diverse client base with the tools to navigate financial markets with confidence and success.
NCM’s global multi-asset online trading platform provides clients with trusted and intuitive access to international financial markets and a diverse product offering including CFDs in forex, metals, energies, commodities and indices. NCM offers clients competitive spreads, fast execution, attractive margin requirements and round-the-clock customer support. NoorCM Academy, NCM’s education arm, is dedicated to delivering industry thought leadership, education and training through a series of seminars, webinars and workshops.
The NCM Group benefits from a wider association with leading UAE investment firm Goldilocks Investment Company which is owned by ADX-listed Eshraq Investments PJSC, and leading asset management and investment banking platform DFM-listed SHUAA Capital PSC.
