FNG Exclusive… FNG has learned that Retail FX and CFDs broker PU Prime has secured a Category Five license from UAE financial regulator Capital Market Authority (CMA, formerly known as the SCA), as the company looks to continue expanding in the MENA region.

The license, granted to PU Prime Financial Services LLC, allows for Introduction and Promotion activities. The company’s UAE operation is headed by Ali Afzaal, who joined PU Prime last year from GTCFX, as was also exclusively reported at the time here at FNG. Ali serves as Regional Head MENA & South Asia at PU Prime.

A UAE CMA (formerly SCA) license has become the most sought-after in the FX and CFDs world over the past year, as many brokers and liquidity firms are seeking to expand in the country and in the MENA region in general. Other recently granted UAE licensees include INFINOX, Prima Capital, Finalto, Pepperstone, Rostro Group, XM, XS.com, Neex, Tradeview, Eightcap, EC Markets, CPT Markets, VPFX, and STARTRADER.

PU Prime, which recently launched the Champion in You campaign as part of its sponsorship of the Argentine Football Association, also operates licensed subsidiaries in Australia, South Africa, Mauritius, and Seychelles.