Kotak Mahindra (International) Limited (KMIL), a fully owned subsidiary of Kotak Mahindra Bank, has received a licence from the UAE’s Securities and Commodities Authority (SCA) to conduct investment fund management and portfolio management services. The approval makes KMIL the first Indian firm to secure this licence from the SCA.
The licence paves the way for UAE‑domiciled funds targeting retail investors, marking a step in cross‑border financial integration. KMIL plans to launch funds aligned with its existing Luxembourg‑based UCITS and India‑domiciled strategies. Subscriptions are expected to open in the final quarter of 2025.
According to KMIL’s President and Head, Shyam Kumar, India’s economic trajectory is drawing global interest. The new licence will enable the firm to provide UAE retail investors with access to India‑centred investment strategies and support portfolio diversification.
Kotak’s international footprint already includes regulatory approvals in the US, UK, Singapore, Mauritius and India. The latest licence adds the UAE to its cross‑border expansion across asset management jurisdictions.
