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PraxisIFM expands with new license

Opens another office in DMCC


PraxisIFM Group, the global financial services business, has received a license to provide non-regulated Corporate Service Provider (CSP) services from the Dubai Multi Commodities Center (DMCC) and has opened a new office in the Jumeriah Lakes Towers (JLT) neighborhood.

The decision to obtain the CSP license in addition to its existing regulated work from the DMCC in Dubai was driven by growing market demand, the company said. The new license will enable it to be more competitive in the region, it added.

The company said it sees great opportunity in the region – with the global pandemic shifting work patterns and facilitating flexible working, it sees a trend of UAE-based expat workers making it their permanent home and putting down roots in terms of property and financial set-up.