PU Prime Expands to UAE with New License
Global brokerage group PU Prime announced that its Dubai-based entity has secured a license from the UAE's Capital Market Authority (CMA). The license allows the company to conduct regulated introduction and promotion activities within the country, expanding its global regulatory footprint.
- The new license is a Category Five, which permits PU Prime's entity, PU Prime Financial Services LLC, to conduct "Introduction and Promotion" activities. This allows them to establish a regulated presence and market their services, but it does not permit them to hold client funds or execute trades directly within the UAE. Clients from the UAE will be referred to PU Prime's offshore-regulated branches for trading activities. - The Dubai operation is led by Ali Afzaal, who serves as the Regional Head for MENA & South Asia. His role is focused on expanding the broker's presence with institutional partners, traders, and affiliates in the region. - This move places PU Prime among a growing number of international brokerage firms securing a presence in the UAE. Competitors like INFINOX, Pepperstone, XM, and Finalto have also recently acquired licenses, highlighting the increasing competition and the UAE's status as a key financial hub. - The regulatory body, the Capital Market Authority (CMA), is a new iteration of the former Securities and Commodities Authority (SCA), established on January 1, 2026. The transition to the CMA involves an expanded mandate to better align with international standards and strengthen market stability. - The UAE's fintech market is projected to grow significantly, with estimates suggesting it will reach over $90 billion by 2031, up from approximately $52 billion in 2026. This growth is fueled by strong government support, rising adoption of digital payments, and increased investment in financial technology. - PU Prime, founded in 2015, holds additional regulatory licenses in jurisdictions including Australia (ASIC), South Africa (FSCA), Mauritius (FSC), and Seychelles (FSA). - The expansion into the UAE is part of a broader strategy for PU Prime to increase its footprint in the Middle East and North Africa (MENA), which is considered one of the fastest-growing regions for leveraged trading. The firm plans to host educational seminars to promote financial awareness in the local market.
