Orion Capital Limited has received a licence from the Dubai Financial Services Authority (DFSA) to operate as an authorised firm in the Dubai International Financial Centre (DIFC).

Orion Capital Limited is a wholly-owned subsidiary of Orion Holding Overseas, a leading financial services firm in the Middle East and North Africa (MENA) region.

The license enables Orion Capital to deal in investments as principal or agent, as well as arrange custody. The firm can now officially arrange credit or deals in investments and act as advisor on financial products or credit to regional and international financial institutions who seek to enter markets in the MENA region, said an official spokesman.

“Joining the DIFC gives Orion Capital a productive platform to further exploit the growth potential for financial products and services in the regional market. Being part of the DIFC community will support Orion’s efforts in reaching out to more partners and customers and expanding its business. We look forward to providing them the support necessary for developing their new business,” said CEO  DIFC Authority Nasser Al Shaali.

“Regional and international financial institutions have a growing need for financial services that allow them to tap into the fast growing markets of the Arab world, with minimum trading risk and maximum market access.  With this license win, and our top notch services, we hope to service this demand.  Dubai is today a serious player in the global financial equation and we are thrilled with this accomplishment,” said CEO of Orion Holding Overseas Mohamed Hafez Khalil.

The announcement follows Shuaa Capital‘s acquisition of a 20 per cent stake in Orion Holding Overseas, in January this year, aimed at harnessing synergies between the two companies.

Orion Holding Overseas offers a wide range of financial solutions geared towards addressing the needs of large corporations, institutional investors and individual high net worth clients.

Through its subsidiaries, the firm offers clients access to international and regional stock markets, derivative markets in foreign exchange, commodities and contracts for difference (CFDs). – TradeArabia News Service