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    Media Announcements ADGM FSRA Issues Alert Over Misleading Claims Made by Manra Capital an Unlicensed Firm

    ADGM FSRA Issues Alert Over Misleading Claims Made by Manra Capital, an Unlicensed Firm

    ADGM FSRA: 05 June 2024

    The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) would like to alert the financial services community and members of the public, about misleading claims made by Manra Capital over the “Tharwa Fund” a purported fixed-return real estate fund.

    It has come to the attention of the FSRA that Manra Capital falsely claimed in a brochure for a proposed marketing event that the Tharwa Fund was “overseen” and “supervised” by the ADGM FSRA.

    These claims are false.

    The FSRA advises the public that:

    • Manra Capital is not and has never been:

      - licensed by the FSRA to carry on any form of Regulated Activity in or from ADGM; and

      - incorporated in ADGM or licensed to undertake any form of commercial activities in ADGM; and

    • The Tharwa Fund is not and has never been established as a Collective Investment Fund in ADGM.

     Only firms authorised by the FSRA can undertake Regulated Activities in ADGM.

    To determine if an entity has been granted a Financial Services Permission by the FSRA to carry on Regulated Activities in or from ADGM, you can search in the FSRA’s Public Register.

    The FSRA advises the financial services community and members of the public to exercise caution when contacted by any entity that purports to be licensed to undertake Regulated Activities in ADGM unless and until the entity's regulated status can be confirmed by checking the FSRA's Public Register.

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