Dubai: Al Ramz Corporation Investment and Development said it has obtained the management company licence from the Emirates Securities and Commodities Authority (Esca).

The licence will permit Al Ramz to establish, manage and administer funds, the brokerage said in a statement posted on Dubai Financial Market’s website.

Al Ramz had launched investment management services in November of 2016, as part of a medium-term plan to transform from a specialist group into a broad-based investment bank.