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November 24, 2023 - In a significant milestone for CFI Financial Group, a renowned CFD broker, the company has proudly announced its granting of the prestigious Category One license from the UAE's Securities and Commodities Authority (SCA). This addition marks CFI's second license in the UAE, strengthening its regulatory presence across multiple jurisdictions, including the UK, Cyprus, Lebanon, Jordan, Egypt, Palestine, Oman, Mauritius, and others.
Hisham Mansour, CFI's Co-founder and Managing Director
Hisham Mansour, CFI's Co-founder and Managing Director, expressed his commented, "Obtaining the SCA license is a major milestone for CFI. Category one is the highest category license for our business with the highest paid-up capital requirements. It highlights our dedication to delivering safe and regulated access to the financial markets, and affirms our objective to remain side by side with our clients in the UAE. The addition of this license further empowers our position in the region and allows us to serve our clients better”.
Mansour further noted, “This marks our fifth entity launch this year, following our successful expansions into Egypt, Kuwait, Palestine, and Oman. Consequently, we now stand as the leading broker in MENA, holding the largest number of licensed entities in the region.”
This development is a testament to CFI's commitment to providing exceptional trading services, emphasizing trust and transparency. The SCA license is particularly meaningful, aligning with CFI’s strategic positioning in Dubai, the hub of innovation and technological advancement in the Middle East. This new credential is expected to bolster CFI’s growth in the UAE and the broader MENA region.
Nidal Abdel Hadi, Chief Executive Officer of CFI Dubai’s SCA licensed entity, remarked, “The UAE is our home. Our aim is to leverage the region's stability and extensive growth to provide the best in terms of our products, platforms, trading tools, and client service. Not only that, but as CFI looks to expand and solidify its position in MENA, we believe that gaining regional oversight from one of the UAE’s most respected financial regulators is key to achieving this.”
Established in 1998, CFI states that it has aimed to offer secure, transparent, and reliable access to global markets. The recent acquisition of the SCA license aligns with these objectives, intended to provide enhanced security and broader market access for its trading clients. This development is part of CFI's efforts to facilitate trading under favuorable conditions and to equip its clients with tools relevant for participation in global financial markets.
