Kotak Mahindra Bank, one of India’s leading banking and financial groups, has taken a major step in its global expansion by receiving a license from the UAE Securities & Commodities Authority (SCA). This makes Kotak Mahindra (International) Ltd. the first Indian institution officially authorized to offer investment fund and portfolio management operations in the United Arab Emirates.TL;DR:
Kotak Mahindra becomes the first Indian entity to obtain aUAE SCA license for portfolio and investment fund management.- The bank will launch UAE-domiciled investment funds, primarily offering
India-focused investment options to local and regional investors. - Kotak plans to open subscriptions in the UAE by the last quarter of 2025, marking a milestone in India-UAE financial ties post-CEPA.
Details of the UAE launch
Kotak Mahindra (International) Ltd. (KMIL), a subsidiary of Kotak Mahindra Bank, is now fully licensed to provide a range of portfolio management and investment fund services in the Emirates. The new license paves the way for the launch of UAE-domiciled funds targeting retail investors, with subscription expected to be available from Q4 2025. Kotak will focus on offering India-centric investment strategies, allowing UAE investors to better diversify their portfolios through both Luxembourg-domiciled (UCITS) and India-based products.This move follows a surge in cross-border business and investments between India and the UAE, especially after the Comprehensive Economic Partnership Agreement (CEPA). Market watchers see Kotak’s entry as a sign of deepening financial integration and new opportunities for wealth management in the region.
About Kotak Mahindra Bank
Kotak Mahindra Bank is among India’s largest and most diversified financial service companies. Founded in 1985 as Kotak Capital Management Finance Ltd., the firm became a fully-fledged commercial bank in 2003 after receiving a banking license from the Reserve Bank of India. The group offers a wide spectrum of services, retail and corporate banking, asset management, investment banking, life insurance, and wealth management. Kotak Mahindra Bank is listed on India’s major stock exchanges and is widely recognized for its strong performance, innovation, and commitment to sound risk management. Its international presence is steadily growing, especially in the Middle East.Kotak Mahindra’s entry into the UAE as the first licensed Indian investment fund manager is set to increase India-focused investment choices for UAE clients and enhance financial linkages between the two major economies. Subscriptions to new Kotak funds are anticipated to open in late 2025, broadening the investment landscape for retail clients in the Emirates.
FAQ
- 1. What is the recent milestone achieved by Kotak Mahindra in the UAE?
Kotak Mahindra (International) Ltd. became the first Indian entity to receive a UAE SCA license for investment fund and portfolio management. - 2. What services will Kotak Mahindra offer in the UAE?
The bank will launch UAE-domiciled investment funds, focusing on India-centric portfolios for retail investors. - 3. When can UAE investors subscribe to Kotak Mahindra’s new funds?
Subscriptions are expected to open by the last quarter of 2025. - 4. How does this move affect India-UAE financial relations?
It deepens cross-border financial flows post-CEPA and gives UAE investors access to India-focused investment options. - 5. About the Kotak Mahindra Bank?
It is one of India’s largest private banks, renowned for retail and corporate banking, wealth management, and a growing international presence.
