Abu Dhabi Global Market, the capital’s new investment free zone, has awarded its first full financial licence to a member company.
Afkar Capital, an incubator for asset management fund start-ups, received an ADGM licence this month, making it the first financial operation to join the market since it declared itself officially open for business in October.
Afkar is the brainchild of Seif Fikry, the former chief executive of the EFG-Hermes business in the GCC outside Saudi Arabia, based in the Dubai International Financial Centre.
He has teamed up with Sylvain Vieujot, who runs the DIFC-based Emirates Reit property investment business, and who becomes a non-executive director of Afkar. Details