Dubai Financial Services Authority (DFSA)Dubai Financial Services Authority (DFSA)

DIFCDIFC

Authorised Firms are granted a licence to conduct financial services in or from the DIFCDIFC; services include for example, Banking and Brokerage, Asset Management, Insurance and Islamic Finance.

Ancillary Service Providers are granted a registration to carry out ancillary services in or from the DIFCDIFC; they provide legal and accountancy services.

Registered Auditors are granted a registration to carry out audits of DIFCDIFC incorporated regulated entities.

David Knott, DFSADFSA Chief Executive, stated: "Over the past 19 months the number of Firms regulated by the DFSADFSA has doubled, reflecting the momentum that the DIFCDIFC has established as the region's leading financial centre.

The DFSADFSA's commitment to international standards of regulation underpins the credibility of regulated Firms as reliable financial counterparties, both regionally and beyond. The DFSADFSA is proud to be contributing to the success of the DIFCDIFC, especially in these times, and to its growing reputation as a centre of excellence." said Mr. Knott.

The regulated financial services sector within the DIFCDIFC works alongside many other registered enterprises which, taken together, constitute the DIFCDIFC community.

There are now more than 750 licensed and registered Firms within the DIFCDIFC, including 300 regulated by the DFSADFSA.

-Ends-

The Dubai Financial Services Authority (DFSADFSA) is the independent regulator of financial and ancillary services conducted through the Dubai International Financial Centre (DIFCDIFC), a purpose-built financial free-zone in Dubai. The DFSADFSA's regulatory mandate covers asset management, banking and credit services, securities, collective investment funds, custody and trust services, commodities futures trading, Islamic finance, insurance, an international equities exchange and an international commodities derivatives exchange.

David Knott was appointed Chief Executive of the DFSADFSA on 1 June, 2005. He is a former Chairman of the Australian Securities and Investments Commission (ASIC) and was Chairman of the Technical Committee of the International Organisation of Securities Commissions (IOSCO). Other positions previously held by him include COO of the Australian Prudential Regulation Authority; CEO of Commonwealth Funds Management; CEO of the Australian Financial Institutions Commission; and Director of the Australian Crime Commission.

For further information please contact:
Ms. Angharad Irving - Jones
Manager, Communications and Strategic Planning
Dubai Financial Services Authority
Level 13, The Gate
Dubai, U.A.E.
Tel: +971 (0)4 362 1661
Fax: +971 (0)4 362 0801
Email: airvingjones@dfsa.ae
www.dfsa.ae

© Press Release 2008

 

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