The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) has published Rules for Private credit funds.
A private loan may be provided by an organization non-licensed by the central bank to create a number of alternative and more flexible financing options, and the new legal framework will ensure effective management of private credit funds in ADGM.
Dubai financial center introduced its own private credit fund regime in 2022. Compared to it, the regime proposed by the FSRA imposes fewer regulatory obligations and ensures greater flexibility of the investment strategy.
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Arabian Business, August 10, 2023