13 March 2023Analysis

Dubai captive licence granted for Ma’aden

The Dubai International Financial Centre (DIFC) has granted a captive licence to Ma’aden, a multi-commodity mining and metals company in the Middle East, which describes itself as among the fastest growing mining companies in the world.

According to the DIFC Ma’aden’s vision is to be a sustainable mining champion with a global presence, and it is making efforts to implement a long-term growth strategy while making its operations sustainable.

The DIFC said that it provides an optimal platform for captive insurance companies, helping them take complete control of their risks while gaining greater financial flexibility and protection.

The licence will help Ma’aden manage retentions and deductibles associated with traditional risk transfer programmes and provide better protection against catastrophic losses and risks, the DIFC said in a short statement on its website.