Skyo Microfinance Bank Limited

scamFRAUDalert see it appropriate to issue this ALERT as the Dubai Financial Services Authority (DFSA) has issued an alert. We believe this  site operator has also been reported on

The Dubai Financial Services Authority (DFSA) alerts the financial services community and the public about a fraudulent scam promoted by “Skyo Microfinance Bank Limited” which offers easy loan approvals in return for a fee to be transferred to them.

Skyo Microfinance Bank Limited:
• Asks individuals to transfer a fee to finance an insurance policy against the loan in addition to the administrative fees.
• Displays a false Certificate of Incorporation purportedly issued by the DFSA.

A copy of the false Certificate of Incorporation can be viewed here.

The DFSA advises the public that it does not issue Certificates of Incorporation of any kind to any company, firm or individual. The Certificate which is used by Skyo Microfinance Bank Limited is false.

The DFSA strongly advises prospective individuals not to respond to Skyo Microfinance Bank Limited or any other person or company representing the firm.

The DFSA also warns against sending money to Skyo Microfinance Bank Limited.

The DFSA has a page on its website dedicated to informing the public about scams, including scams which misuse the name of the DFSA and/or the DIFC.  All Alerts issued by the DFSA may be accessed by going to ALERTS 

The DFSA has also issued warnings and guidance about the common types of scams perpetrated on consumers. For more information on these scams please go to HOW TO AVOID BEING SCAMMED

If you have any concerns about the authenticity of any DIFC Authority or DFSA correspondence or documents, you should direct your concerns to the DIFC Authority on Tel: +971 4 362 2222 and to the DFSA via the DFSA Complaints function on COMPLAINTS

Leave A Comment

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.