In total, 12 laws were issued in the first batch. These are the regulatory law, the companies law, the law on the application of civil and commercial laws, the law relating to the application of DIFC laws, the limited liability partnership law, the contract law, the insolvency law, the arbitration law, the data protection law, the general partnership law, the markets law and the law regulating Islamic financial business.

Also on 19 September, the DFSA announced that the first three licences had been granted to operate in the DIFC, to Julius Baer (Middle East), Standard Chartered Bankand GCC Energy Fund Managers. Further licences are due to be granted imminently. The milestone in the development of the DIFC follows a turbulent period in the centre’s development, which saw both the chairman and chief executive of the DFSA removed in late June and the head of the DIFC’s land management company dismissed in early September (MEED 3:9:04; 9:7:04).