Barjeel Geojit gets SCA license to manage investment funds in the UAE

Barjeel Geojit Financial Services LLC is among one of the first financial intermediaries in the UAE mainland to receive the Securities and Commodities Authority’s (SCA) license for ‘Managing Investment of Investment Funds’, a press release from the firm said on Wednesday.

Barjeel Geojit was established in the year 2001, as a dedicated company to help the UAE residents manage their financial investments across multiple asset classes including equities, mutual funds, and more. Now, Barjeel Geojit offers access to investment options in global / Indian markets to 50,000 customers.

Barjeel Geojit is also supporting a SCA initiative aimed at expanding local opportunities in line with the broader vision of 'We the UAE 2031'. The company expressed its commitment to contribute to the nation's growth and establish a long-term presence in the market.

Barjeel Geojit added that it is poised to launch varied types of Funds to suit the multiple investment appetite of varied investor classes including equity, debt and real estate. The firm announced their intention to invest in End-of Service Benefit Funds, recently announced by the Ministry of Human Resources and Emiratisation (MOHRE) and SCA.

Barjeel Geojit plans to launch of India centric ‘Fund of Funds’ (FoF) – a basket of existing funds to help investors from the UAE benefit from the promising Indian capital markets.

Sheikh Sultan Bin Sooud Al Qassemi, Chairman of Barjeel Geojit, remarked, “The UAE is rapidly advancing across sectors such as technology, digitization, energy transition, global offshoring, and governance. In alignment with these initiatives, SCA has initiated a significant regulatory overhaul by introducing various new fund structures like Umbrella Funds, Family Funds, ESG Funds, Real Estate Funds and Commodities Investment Funds. This streamlined process has empowered Barjeel Geojit to launch new funds, contributing to the development of the local Fund Management industry. I am delighted that Barjeel Geojit will play a vital role in this nation-building endeavor to position the UAE as a Financial powerhouse.”

Mr. C. J. George, Managing Director of Geojit, India while addressing the press said, “Barjeel Geojit’s extensive history, proven industry track record, coupled with robust brand recognition and strong client relationships, we are well positioned to launch a range of Funds in mainland UAE. These offerings will cater to the entire investing community in the UAE and the GCC in the near future. With the opening of Geojit IFSC office in the ‘GIFT’ City, Gujarat, India – the emerging offshore financial hub, Barjeel & Geojit will offer an array of financial services and open doors to international collaborations & partnerships for investors”.

In his statement, Mr.Shamsudheen, Director, Barjeel Geojit, expressed “Our investors have the opportunity to leverage on the growth story of both the UAE & global markets. Additionally, as India is on track to become a USD 5 Trillion economy, we believe that Barjeel Geojit’s India focused Fund holds significant potential for investors from this region. This milestone event marks a celebration of the trust placed in us by our investors, partners and regulators, At Barjeel Geojit, we remain committed to delivering and surpassing the expectations of discerning investors in the Middle East”.

Mr.Krishnan, CEO of Barjeel Geojit, highlighted, “As we embark on a new realm in financial offering through the local Investment Funds our reach will extend to a much larger audience, we aim to be a leading facilitator in their wealth-building journey. We have a skilled and professional Fund Management team alongside an in-house team dedicated to researching, tracking and evaluating macro-economic indicators, capital markets and financial sectors. We have employed robust risk management processes and adhere to a multi-layered investment management structure encompassing advisory, decision making, execution, fund accounting and control”.