The license, effective as of April 6, allows Fitch to provide credit ratings for "onshore" entities listed in SCA-controlled stock exchanges, including the Dubai Financial Market and Abu Dhabi Securities Exchange, Fitch said in a statement.
DUBAI: Fitch Ratings said on Wednesday that its Dubai branch has been given a license by the United Arab Emirates' Securities and Commodities Authority (SCA), the country's credit rating agency regulator.
The license, effective as of April 6, allows Fitch to provide credit ratings for "onshore" entities listed in SCA-controlled stock exchanges, including the Dubai Financial Market and Abu Dhabi Securities Exchange, Fitch said in a statement.
Fitch moved its Dubai office from the Dubai Media City free zone to an onshore location at the Dubai World Trade Centre, in line with the licensing requirements. It also continues to be regulated by the United Kingdom's Financial Conduct Authority.
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