Residents in the UAE have been urged to exercise caution following a recent warning issued by the Securities and Commodities Authority (SCA) regarding an unlicensed company operating in Dubai. The SCA highlighted that Aiwa Capitals Marketing, a firm based in Dubai, does not hold the necessary licensing to offer financial services or conduct regulated activities within the UAE.

This warning underscores the ongoing challenges related to unlicensed businesses in the UAE. In recent years, several cases have come to light where individuals and companies operating without proper authorization have misled investors and clients, leading to significant financial losses. Dubai’s business regulations are stringent, and the UAE government has consistently reinforced the need for companies to follow the correct registration and licensing procedures.

Industry experts advise that operating an unlicensed company in Dubai is a serious violation of UAE business regulations, and such entities often engage in risky or fraudulent activities. The SCA has reiterated that they bear no responsibility for any dealings with Aiwa Capitals Marketing, emphasizing the importance of verifying a company’s credentials before entering into any financial transactions.

This is not the first time UAE authorities have taken action against unlicensed companies. Over the past few years, the government has implemented stricter measures to regulate businesses and protect consumers. Authorities have introduced heavy fines, penalties, and even imprisonment for those involved in illegal business operations. The recent case serves as another reminder of the UAE’s commitment to maintaining a transparent and secure business environment.

To avoid falling prey to unlicensed firms, individuals and businesses should:

• Always verify a company’s registration with the relevant authorities.
• Consult professional legal advice before making financial commitments.
• Regularly check for updates from regulatory bodies such as the SCA and the Department of Economic Development (DED).

Stay vigilant and report any suspicious companies to local authorities. With Dubai’s robust business regulations, taking the necessary precautions can safeguard your investments.