TMF Gains DFSA Approval to Provide TMF DIFC Fund Management Services from DIFC
TMF secures DFSA approval to offer fund management from DIFC and an approved corporate services licence, strengthening asset managers’ support across the UAE.
TMF has received formal approval from the Dubai Financial Services Authority to provide TMF DIFC fund management services from the Dubai International Financial Centre. The group has also been granted an additional licence to operate as an approved provider of corporate services within the Centre. This regulatory milestone allows TMF to expand its range of fund-related and institutional support services from a leading regional financial hub.
Regulatory approvals granted
The DFSA authorisation covers fund management activities to be carried out from DIFC, aligning TMF’s offering with the regulatory framework applicable to funds operating within the Centre. In addition to fund management permission, the firm obtained an approved-provider licence that permits it to deliver corporate and administration services to entities domiciled in DIFC.
These approvals position TMF to engage with institutional clients, asset managers and fund vehicles that rely on the Centre’s legal and regulatory environment. The clear regulatory mandate also signals to market participants that TMF’s operations will be supervised under the DFSA’s established compliance and governance standards.
Scope of services under the new licences
Under the fund management permission, TMF will be able to provide a range of services that typically support fund formation, governance and ongoing management. Those services are expected to include fund administration, oversight arrangements, and corporate support tailored to managers and trustees operating within DIFC’s structures.
The approved-provider status further enables TMF to act as a corporate services partner for entities established in the Centre, offering company secretarial, compliance, and other institutional services. Together, these authorisations allow the firm to deliver integrated solutions for fund sponsors and third-party managers seeking a DIFC presence.
Executive perspectives from TMF and DIFC
Farida Azariouh, head of financial services for the Middle East, India and Africa at TMF Group, said the move reflects the strategic importance of DIFC for the region’s funds industry. She noted that the Centre plays a pivotal role in the continued development of the investment fund ecosystem across the Gulf and broader MENA region.
Salman Jafri, an executive for business development at the DIFC Authority, welcomed TMF’s arrival and said the firm’s licences will broaden the range of support available to asset managers in the Centre. Officials indicated the approvals are consistent with DIFC’s strategy to diversify service providers and strengthen infrastructure for fund managers and corporate clients.
Implications for asset management activity in the UAE
Market participants say the addition of an international service provider like TMF could lower operational friction for fund launches and ongoing administration in DIFC. Greater competition among service providers typically offers managers more choice on pricing and specialised capabilities, which can accelerate new fund formation and cross-border fund flows.
The approvals may also enhance the attractiveness of DIFC for global managers seeking a regulated foothold in the Middle East, particularly those targeting institutional and family-office investors across the UAE and neighbouring markets. Over time, a deeper pool of service providers can support larger and more complex fund structures, including private equity and real assets vehicles.
Operational rollout and client onboarding
TMF intends to commence operations from its DIFC base and to begin onboarding clients that require locally authorised fund management and corporate services. Implementation will include establishing compliance frameworks, staffing local teams and coordinating closely with DFSA supervisory requirements. The firm’s global operations model is likely to be leveraged to provide specialist expertise and back-office support.
DIFC officials said they will continue to promote the Centre as a hub for fund managers and professional services firms, including those that provide regulatory-compliant administration and governance. Both parties indicated that the approvals mark the start of a working relationship focused on enabling asset managers and their investors.
TMF’s DFSA approval and approved-provider licence add to a growing ecosystem of fund service providers based in DIFC, reinforcing the Centre’s role as a gateway for regional and international fund activity in the UAE.
