Kotak Mahindra (UK) Ltd (KMUK) has been licensed by the Dubai Financial Services Authority to conduct its operations from its branch at Dubai International Financial Centre (DIFC).

It is the first Indian institution to be set up at DIFC. Making this announcement in Dubai, Mr Shyam Kumar, Director, KMUK, said that DIFC has created a global financial hub in Dubai.

Dr Omar Bin Sulaiman, Director-General of DIFC, commented, "It is our privilege to welcome our first Indian partner to the DIFC."

KMUK plans to offer its customers access, advisory and investment management services for the Indian capital markets. The targeted clientele includes institutions and high networth individuals.

(www.thehindubusinessline.com)