The National Investor (TNI) has become the first bank based in the United Arab Emirates to have obtained a licence to operate as an authorised firm from the Dubai International Financial Centre (DIFC).
TNI, founded in 1994 as a private joint stock company registered in Abu Dhabi, specialises in investment banking, private equity, real estate and securities.
Renowned for its leading position in IPO mandates, the firm is ranked as a leading arranger of public share offerings with total transaction value exceeding AED 8.5 billion (USD 2.3 billion).
With its DIFC licence, TNI plans to expand its investment banking capabilities and increase its focus on its asset management offering.
“We welcome our first UAE based member to the DIFC," stated Dr Omar Bin Sulaiman, Director General of DIFC Authority.
"The fact that the DFSA has licensed TNI, reflects a sophisticated level of service and the high standards of the organization," he added.
Dr Omar Bin Sulaiman said that the DIFC looks forward to welcoming more organizations based in the UAE and in Gulf Cooperation Council member states.
"The GCC is one of the fastest growing markets in the world in terms of financial services," he observed.
"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," he added.
Meanwhile, Mr. Abdullah Mazroui, Chairman of TNI, commented that the bank was "very proud" to become the first UAE-based financial institution to gain a DIFC licence.
"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," he noted.
Mr. Orhan Osmansoy, TNI's Chief Executive Officer, added that:
“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.
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