Investment firm Century Financial acquires Category1 SCA licence
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Investment firm Century Financial acquires Category 1 SCA licence

Investment firm Century Financial acquires Category 1 SCA licence

The new licence recognises Century Financial as a trading broker of OTC derivatives and currencies in the spot market

Century Financial

Dubai-based investment firm Century Financial has acquired the new Category 1 SCA licence. The new licence is in line with the UAE’s Securities and Commodities Authority’s (SCA) latest ‘Rulebook’ – released in May 2021 – which has introduced major changes to the securities trading and broker brokerage regime in the UAE.

As part of these changes, the SCA established a list of updated guidelines for licensing requirements for SCA-licensed firms.

As an SCA Category 1 licensed firm, Century Financial is approved to be a trading broker in the international markets and trading broker of OTC derivatives and currencies in the spot market.

Bal Krishen, chairman and CEO of Century Financial stated “We are proud to be regulated by SCA and congratulate them for bringing these positive changes in the licensing structure for the UAE financial markets. 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 is one of the country’s oldest investment services firms. The firm has has built its reputation in the UAE over three decades based on the strong relationship it shares with its investors, offering them best-in-class support over the years.

Read: Why the chairman of UAE’s Century Financial feels a people-centric approach is a game changer

It addition to traditional investment instruments, Century Financial offers investors across the entire region online trading solutions with a customer-centric business approach. The recent license upgrade opens new opportunities for investors to trade with confidence due to the better protection by the regulation.

Read: UAE’s Century Financial to launch new funds, AI trading platform and property crowdfunding site

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