The UAE Securities & Commodities Authority (SCA) has introduced the Middle East’s first ‘finfluencer’ license, establishing formal oversight for individuals providing financial advice across digital platforms in the UAE. This initiative aims to protect investors and create a governance framework for digital financial content.

The license applies to individuals offering financial or investment recommendations related to regulated products or entities within the UAE through digital or traditional media. Eligible applicants must register with SCA and comply with regulatory obligations to ensure investor protection and reinforce trust in local capital markets.

“Introducing the Finfluencer license is not merely a regulatory measure – it is a strategic move to redefine the role of regulators in the digital economy,” Waleed Saeed Al Awadhi, CEO of SCA, said in a statement.

The Regulatory Game

This development follows established licensing patterns across the UAE emirates. Abu Dhabi’s Department of Economic Development implemented licensing requirements for digital advertisers in July 2024, with fees ranging from Dhs1,250 (~$340) for individuals to Dhs5,000 (~$1,360) for companies, and non-compliance fines reaching Dhs10,000 ($2,700).

The regulation comes amid significant growth in the regional creator economy. YouTube recently reported a 15% increase in UAE-based channels earning seven figures annually in AED as of December 2024. The UAE is actively positioning itself as a hub for the creator economy, with initiatives like the Creators HQ project aiming to attract 10,000 creators to relocate to the country.