Dubai: TMF Group, a global leader in administrative asset servicing and compliance services, has announced its receipt of regulatory approval from the Dubai Financial Services Authority to operate as a Fund Administrator within the Dubai International Financial Centre (DIFC). Alongside this, TMF Group will be licensed to function as a Corporate Service Provider, marking a significant expansion for the firm.
According to Emirates News Agency, this strategic move allows TMF Group to offer enhanced support to clients incorporating and operating within the DIFC. The firm will also provide fund administration services to both local and international asset managers operating in the centre. This expansion not only strengthens TMF Group’s presence in the Middle East but also deepens its role in the financial landscape of the region.
The DIFC is continuously evolving as a leading global financial centre and a regional hub for wealth and asset management. The expansion of TMF Group coincides with the centre’s sustained growth across its funds ecosystem, fuelled by increasing demand from global and regional asset managers seeking opportunities in the Middle East, Africa, and South Asia.
Farida Azarioh, TMF Group’s Head of Financial Services in the Middle East, India, and Africa, emphasized the importance of the DIFC as a financial hub and its role in the growth of the fund’s ecosystem in the Middle East. She highlighted that operating within the DIFC will enable TMF Group to better support its clients as they expand regionally.
Salmaan Jaffery, Chief Business Development Officer at DIFC Authority, expressed his enthusiasm about welcoming TMF Group to the DIFC. He noted that TMF Group’s expertise in fund administration and corporate services will bolster the support available to asset managers and corporates operating from the centre. He also highlighted the DIFC’s provision of regulatory clarity and a conducive operating environment for firms like TMF Group to deliver consistent, high-quality services across multiple jurisdictions.