Century Financial, which has a long history with UAE-based investors, has further strengthened its three decades of market presence by acquiring the new Category 1 SCA license.
The company says it has been one of the very few UAE regulated financial service providers in the market.
Thanks to its long track record Century has gained a deep understanding of its UAE investor base and the local investment landscape. This has allowed the investment services company to actively collaborate with regulators and government bodies to develop UAE as a hub for global investment by sharing its learnings in the evolving capital markets.
In May 2021, the Securities and Commodities Authority (SCA) released a new and consolidated ‘Rulebook’, which brought about major changes to the securities trading and brokerage regime in the UAE. It set out updated guidelines for licensing requirements for SCA-licensed firms.
In line with these changes, Century Financial has now become a Category 1 licensed firm by the UAE regulator and is able to act as a trading broker in international markets, and for OTC derivatives and currencies in the spot market.
Bal Krishen, Chairman & CEO of Century Financial, said “These changes are in line with the best global practices in the industry that will help UAE based companies like us, who are committed to providing high-quality services upholding the principle of transparency and protection by the regulator.”
The UAE-based firm has been a leading investment services player helping to empower investors across the region by offering cutting-edge online trading solutions with a customer-centric business approach. This recent license upgrade opens new opportunities for investors to trade with confidence due to the better protection by the regulation.
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