New UAE investment fund rules could hurt the country’s ambitions to become a more important financial center, analysts said, adding that Qatar could reap the benefits.
The new rules from the Securities and Commodities Authority (SCA) will apply to firms based in Dubai’s financial tax-free zone. They include minimum capital requirements for new domestic funds and guidelines on promoting and offering foreign funds in the UAE.
Much of the latter is done by firms in the Dubai International Financial Center (DIFC), the emirate’s free zone business hub which houses global banks and investment firms.
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