Firm wins SCA license to operate in UAE

Inayat-ur-Rahman, Business Editor

Direct TT, one of the world’s leading financial consultancy firms and part of the DTT Group, a globally recognised and regulated financial services provider, acquired the UAE Securities and Commodities Authority (SCA) license for Financial Consultancy and Financial Analysis. The DTT Group further announced its plans to invest $10 million over the next two years in its regional operations and fintech research and development.

As part of the acquisition, Direct TT will offer its clients regulated, reliable financial research and analysis, along with scientific data based on more than 25 years of experience, to forecast price trajectory and future trends for the forex, stocks, CFDs, precious metals, and energy markets. In addition, the license permits Direct TT to introduce customers to financial services from SCA licensed entities and promote financial products through marketing and advertising. The move represents a significant step towards becoming a regional and global leader in the financial markets sector.

Dr Saif Al-Islam Bin Saud Bin Abdul-Aziz Al-Saud, Chairman of the Board, DTT Group commented: “The region has firmly established itself as a global financial hub, with its strong and diverse economy, advanced financial markets, and pro-business policies, thereby attracting investments from around the world. In addition, the fintech and innovation sectors are experiencing a rapid boom as a result of the high demand from businesses upgrading their technology infrastructure to meet global standards.”

Walid Ead, CEO & Managing Partner, DTT Group, said: “Acquiring the SCA license is a major milestone for Direct TT, as it reaffirms our commitment to our clients in the UAE. Our mission has been to consistently deliver regulated, accurate, and reliable financial data to ensure that traders have access to the best financial products and information, as well as the security to invest with confidence.”

“We consider the GCC to be a key region for us, due to its position as a global financial hub. By making significant investments in the region, will look forward to better serving our clients and meeting the growing demand for quality services and cutting-edge fintech solutions. It further underscores our commitment to contribute to the empowerment of the financial sector across the region,” he added.

Recent reports in the country have revealed that Dubai has a $8.7 trillion economic plan for the upcoming decade, that aims to boost trade, foreign investments, and its status as a global hub. The DTT Group, with a reputation for unparalleled quality, innovation, and customer service, is well-positioned to contribute to this growth. The company has been in the financial services industry for over 25 years and has 13 physical offices around the world. In addition to the UAE regulation, DTT is also regulated in the UK, Lithuania, Colombia and Vanuatu.