Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

UAE's new investment fund rules may hit DIFC  Join our daily free Newsletter

MENAFN - - 05/08/2012

No. of Ratings : 0
Digg This Article: http%3a%2f%2fwww.menafn.com%2fmenafn%2fqn_news_story_s.aspx%3fstoryid%3d1093542153 Share This Article: http%3a%2f%2fwww.menafn.com%2fmenafn%2fqn_news_story_s.aspx%3fstoryid%3d1093542153 Add to Delicious Seed this article Buzz this article Add to Reddit Add to furl Add to stumbleupon Add to Mixx!


 


(MENAFN) The UAE plans to implement new investment fund rules, which analysts say could hamper the Gulf state's ambitions to become a financial hub, Reuters reported.

The Securities and Commodities Authority (SCA) will apply the new rules to firms based in Dubai International Financial Center (DIFC).

The new rules include minimum capital requirements for new domestic funds and guidelines on promoting and offering foreign funds in the UAE.

The authority has classified funds created inside the free zone as 'foreign funds', which were previously operating under offshore laws.

The new rules require foreign funds' offerings to go through a local promoter like banks and investment firms. Promoters must be licensed by the central bank.

The upcoming rules have raised concerns that they might prompt some funds to look to more competitive free zones to set up there.

 






  MENA News Headlines
May 23 2013Hairdos deployed in Brazil's fight against racism ,AFP
(MENAFN - AFP) Nothing like a good hairdo to fight deeply entrenched racism in one of the world's emerging economic giants. The tools of battle, such as scissors and conditioners, are being ...

May 23 2013Outrage grows over scandal-tainted Malaysia state boss ,AFP
(MENAFN - AFP) Despite earning a civil servant's salary for three decades, Taib Mahmud, the powerful chief minister of Malaysia's Sarawak state, is reputed by critics to be one of Asia's richest ...

May 23 2013Dubai's Damac starts sales of Bay's Edge units ,MENAFN
(MENAFN) Damac Properties stated that it will soon start sales of units at its Burj area project, reported Arabian Business. The Dubai-based company's 22-storey Bay's Edge tower consists of 220 ...

May 23 2013Islamic Development Bank Agrees to Increase Its Capital to $ 150 Billion ,Qatar News Agency
(MENAFN - Qatar News Agency) The Board of Governors of Islamic Development Bank Group approved at the conclusion of its annual meetings in the Tajik capital of Dushanbe today the increase of the ...

May 23 2013China's Manufacturing Slows to 7-Month Low ,Qatar News Agency
(MENAFN - Qatar News Agency) China's manufacturing activity fell into contraction for the first time since October, a preliminary survey from the HSBC showed Thursday. Figures released by HSBC ...

May 23 2013Flydubai begins Salalah flights ,Khaleej Times
(MENAFN - Khaleej Times) Flydubai on Wednesday began flights to Salalah, in the Sultanate of Oman, bringing its operational network to 60 destinations. The airline also launched flights to the Sri ...

May 23 2013UAE- 'No word from Vivendi on Maroc Telecom bid' ,Khaleej Times
(MENAFN - Khaleej Times) Etisalat has yet to hear back from Vivendi on its bid for the French firm's 53 per cent stake in Maroc Telecom, its top official said on Wednesday. Etisalat and regional ...

May 23 2013Emirates NBD Properties inks Dh122m agreement for retail space ,Khaleej Times
(MENAFN - Khaleej Times) Emirates NBD Properties on Wednesday announced a Dh122 million agreement for retail space in Index Tower, located in the Dubai International Financial Centre ...

May 23 2013UAE- Design experts discuss new trends at Index seminars ,Khaleej Times
(MENAFN - Khaleej Times) The Index International Design Exhibition and The Office Exhibition, which close today, have provided the regional interior design and architecture community with an ...

May 23 2013UAE adds power to mobile broadband ,Khaleej Times
(MENAFN - Khaleej Times) The UAE on Wednesday took a critical initiative to stay ahead in broadband connectivity race by unveiling its band plan for 700MHz and the launch of spectrum in the 800MHz ...

more...


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help