The firm said it is the first Indian firm to have obtained such a licence from the UAE's capital markets watchdog.

The capital markets regulator in the United Arab Emirates has granted a licence for Kotak Mahindra International Ltd (KMIL) – part of India’s Kotak Mahindra Bank – to carry out fund and portfolio management activities in the jurisdiction. 

Kotak said yesterday that it is the first Indian firm to obtain such a licence from the Securities and Commodities Authority.

Now that Kotak has obtained the licence, it can launch UAE-domiciled funds for retail investors.

“India’s economic momentum continues to attract global interest, and through this licence, we are excited to offer UAE retail investors access to our India-focused investment strategies – enabling them to participate in one of the world’s dynamic and resilient markets,” Shyam Kumar, president and head, Kotak International, said.

KMIL plans to launch funds aligned with its Luxembourg-domiciled UCITS and India-domiciled strategies, with subscriptions expected to open for UAE investors by the final quarter of 2025.

Kotak already has regulatory approvals in India, the US, UK, Singapore, Mauritius, and the UAE.