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Global investment group IQ-EQ has opened a business in Dubai, United Arab Emirates (UAE), its first physical presence in the Middle East.
It was previously licensed by the Dubai Financial Services Authority (DFSA) to provide a range of services to clients ranging from corporate businesses to ultra-high net worth individuals and family offices.
Located in the Dubai International Financial Center (DIFC), the office brings IQ-EQ’s number of locations to 25 jurisdictions around the world.
Leading IQ-EQ UAE in Dubai is Senior Executive Tariq Nakhooda, who will join IQ-EQ in 2022 to establish, build and lead operations.
In establishing IQ-EQ’s UAE operations, Tariq worked closely with Sridhar Nagarajan, IQ-EQ Regional General Manager for Africa, India and Middle East, and Rehma Imrith, Chief Commercial Officer for Africa, India and Middle East.
IQ-EQ Group CEO Mark Pesco said: “Extending IQ-EQ’s global reach to DIFC, the Middle East’s leading financial center, is in line with our ambition to have a local presence in all major financial centers around the world. IFC will strengthen the Group’s Has a strong global positioning.
“Importantly, DIFC is developing into an IFC jurisdiction linking the economies of Africa, India and the Middle East, and given IQ-EQ’s extensive network and client base in the region, we are confident that this investment will be a great success.”
The need for DIFC
This comes at a time when many financial services groups are looking to set up in DIFC.
international consultant According to reports, the financial services giant Edmund Rothschild Group and Holborn Assets Obtained DFSA approval to open a consultancy office in DIFC. March 2023, Investment Bureau It also exclusively revealed that St James’s Place has received approval-in-principle for a DFSA licence.
Number of financial entities regulated by the DFSA grow to 590 89 financial services firms to be authorized in 2022. That number is up from the 51 authorized in 2021.
Some of the companies joining DIFC in 2022 include Nomura, Bafang Group, Continental International, Harpy Bank, alpardis group and finsbury fortune.
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