Adoption of a new GCC framework on Fund Passporting
In a significant step towards deepening the integration of regional financial markets, the GCC Council has approved a new regulatory framework for fund passporting, which is set to come into force in early 2025. This marks a milestone, as investment fund units become the first financial product regulated under a unified GCC framework.
Through the adoption of this framework, the new regulations aim to streamline the process of registering investment funds, promote cross-border investment opportunities, ensure higher standards of governance and transparency, and facilitate high levels of protection for investors across the GCC member states.
This milestone is also expected to boost the financial markets across the region and strengthen the GCC’s position as a leading global investment hub, as it highlights the regional efforts made at providing an attractive and secure financial environment for investment opportunities.
At Re/think, we are excited by these developments and are committed to helping clients understand and navigate these upcoming regulatory changes to unlock new opportunities in this evolving financial landscape.
