IQ-EQ has today announced that it has been granted its licence to offer fund administration services in the Dubai International Financial Centre (DIFC).
Following the opening of IQ-EQ’s office in the DIFC in 2023, and the granting of its licence to offer corporate services, this news is the latest in the firm’s targeted expansion in the Middle East region.
Its fund service licence, obtained from the Dubai Financial Services Authority (DFSA), will allow IQ-EQ to offer its full suite of investor services capabilities. As demand in the DIFC continues to grow, and the financial hub affirms its position on the global stage, IQ-EQ is poised to support clients in the region for the long-term, with sustainable and compliant investment growth.
IQ-EQ’s Group Chief Commercial Officer Emma Crabtree, commented:
“On the year of the DIFC’s 20th anniversary, it shows no signs of momentum slowing. Quite the opposite, with a 24% per cent year-on-year growth in registrations in H1 2024 and assets under management now exceeding USD 700bn[1]. Our expansion of services in the DIFC recognises the scale of the opportunity presented, and is in line with the increased demand we’re seeing from existing clients – both those local to the market and global players eyeing expansion. ”
Country Head, UAE Tariq Nakhooda, added:
“The DIFC is a strategically important location for IQ-EQ in the Middle East. Following our launch in the region last year, our focus has been on expanding both our offering and footprint and connecting clients across the world’s key regions. We’re delighted to receive our new fund administration licence and look forward to strengthening our commitment to the financial centre, and our clients operating within it.”
