Indian banking giant Kotak Mahindra launches in UAE - to offer investment funds

Kotak Mahindra Bank subsidiary becomes first Indian entity to get UAE SCA license

Last updated: August 18, 2025 | 10:28

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Kotak Mahindra Bank has evolved into one of India's key financial services entities.

Bloomberg

Dubai: One of India's biggest banking and financial services entities, Kotak Mahindra Bank has received the UAE license to offer investment fund and portfolio management activities.

The license from the UAE Securities & Commodities Authority was granted to Kotak Mahindra (International) Ltd.

There had been speculation in the market about Kotak Mahindra Bank's impending entry into the UAE, with more business and investment flows happening post the CEPA deal with India.

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KMIL becomes the first Indian firm to receive this license from the SCA and 'marking a significant milestone in the evolution of cross-border financial services'.

This will lead to the launch of UAE-domiciled funds for retail investors.

According to Shyam Kumar, President and Head, Kotak International, “India’s economic momentum continues to attract global interest, and through this license, 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.

"We will offer India-centric investment options to help investors diversify their portfolios.”

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KMIL plans to launch funds 'aligned with its UCITS (Luxembourg-domiciled) and India-domiciled strategies'.

Subscriptions are to open for UAE investors by the final quarter of2025.

The banking entity already has overseas licenses in the US, the UK, Singapore and Mauritius.

Manoj Nair

Manoj Nair, the Gulf News Business Editor, is an expert on property and gold in the UAE and wider region, and these days he is also keeping an eye on stocks as well. Manoj cares a lot for luxury brands and what make them tick, as well as keep close watch on whatever changes the retail industry goes through, whether on the grand scale or incremental. He’s been with Gulf News for 30 years, having started as a Business Reporter. When not into financial journalism, Manoj prefers to see as much of 1950s-1980s Bollywood movies. He reckons the combo is as exciting as it gets, though many will vehemently disagree.

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