Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.
The Dubai International Financial Centre (DIFC) took the final step into legal existence on 19 September, with the promulgation of the centre’s own rules and regulations and of those governing its regulator, the DIFC Financial Services Authority (DFSA), by Dubai Crown Prince, UAE Defence Minister and chairman of the DIFC Sheikh Mohammed bin Rashid al-Maktoum. The move follows the passage in July of the federal decree establishing the DIFC and the enactment on 16 September of the Dubai law setting up and defining the functions of the country’s first financial services free zone. ‘The DIFC is now open for business,’ said Habib al-Mulla, chairman of the DFSA regulatory council.