Crown Agents Bank (CAB) today announced that its new Middle East subsidiary, CAB Global Markets, has received a Principal Approval (IPA) from the Financial Services Regulatory Authority (FSRA) of ADGM for a Category 2 Financial Services Licence.
The company also announced that Arif Khan has been appointed as Senior Executive Director to lead CAB Global Markets. Arif will lead the organization’s growth and expansion in the region.
Arif brings a deep understanding of cross-border transactions, financial markets, credit and risk, having worked closely with mainstream, multinational corporations and development finance institutions in the region. His career spans both developed and emerging markets where he has advised companies and institutions on complex financing structures, capital raising and strategic investments.
“Securing this IPA is a key step in our global roadmap and a strong endorsement of our strategic focus on the region and wider emerging markets where we are focused on delivering prosperity.” said Neeraj Kapur, CEO of CAB. “We are committed to scaling our offering in Abu Dhabi and contributing to the UAE’s vision of becoming a leading international financial centre. Our aim is to bring sophisticated, institutional-grade trading solutions to the region, unlocking opportunities for long-term growth for clients operating in the world’s most vibrant and dynamic markets.”
CAB’s development in Abu Dhabi reflects the firm’s recognition of the UAE’s rapidly growing position as a global financial centre, underpinned by a bold economic vision, long-term arrangements and strong institutional frameworks. Abu Dhabi’s strategic location and economic vision make it a natural hub for CAB’s mission to drive financial inclusion and prosperity in emerging markets.
The IPA from ADGM’s FSRA adds to CAB’s global regulatory footprint alongside the UK, Netherlands and US, in line with its strategy to build more local relationships around the world.