TMF Group has received regulatory approval from the Dubai Financial Services Authority (DFSA) to operate as a fund administrator and corporate service provider within the Dubai International Financial Centre (DIFC).
The ability to provide fund administration services to both local and international asset managers operating in the DIFC will boost the group's presence in the Middle East, with the region seeing increasing demand from global and regional asset managers seeking to access opportunities across the Middle East, Africa and South Asia, the firm said.
Farida Azarioh, TMF Group’s head of financial services in the Middle East, India and Africa, said: “DIFC is a key financial hub and plays a central role in the continued growth of the fund’s ecosystem in the Middle East.
“Being able to operate in it enables TMF Group to better support clients not only within DIFC but also as they expand regionally. This is an important step in strengthening our presence in the region.”
Salmaan Jaffery, chief business development officer, DIFC Authority, added: “We are pleased to welcome TMF Group to DIFC as we continue to expand the depth and breadth of our financial ecosystem.
“TMF Group’s expertise in fund administration and corporate services will enhance the support available to asset managers and corporates operating from the DIFC.”
