Dubai Financial Services Authority
| Dubai Financial Services Authority | |
| |
| Founded | 2004 |
|---|---|
| Headquarters | Dubai, UAE |
| Key People | David Knott, CEO; Abdullah Saleh, chairman |
| Website | www.dfsa.ae/dfsa |
The Dubai Financial Services Authority (DFSA) is the independent regulator of financial and ancillary services conducted in or from the Dubai International Financial Centre (DIFC), a financial free-zone in Dubai. The DFSA’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 (NASDAQ Dubai) and an international commodities derivatives exchange (Dubai Mercantile Exchange).
It is one of four regulators - alongside the Central Bank of the United Arab Emirates (UAE), the Insurance Authority of the UAE (IA) and the Emirates Securities and Commodities Authority (SCA) - which split oversight of financial services business in the UAE. But the DFSA has exclusive jurisdiction over the DIFC.
The DFSA was built from scratch using best-practice from the international regulatory environment, modeled heavily on the centralized Financial Services Authority in the UK.
Collective investment schemes such as property funds, Islamic (Shariah-compliant) funds, hedge funds, fund of funds, and private equity funds can now operate. The Collective Investment Law 2006 allowed the setting up of investment funds.
History[edit]
Key People[edit]
- Ian Johnston, Chief Executive
- Saeb Eigner, Chairman