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In February 2002, the Dubai Government announced its intention to establish the Dubai International Financial Centre (DIFC) - a bold vision to create a financial marketplace that completes the global financial system, by filling the gap that is not covered by the international financial centres of Europe, the Far East and North America. The DIFC aims to position Dubai as a recognised hub for institutional finance, and as the regional gateway for capital and investment.
The DFSA is a critical part of that goal. By introducing a robust regulatory framework built to the highest international standards and tailor-made for its environment, the DFSA is responsible for ensuring that the DIFC is one of the best regulated financial centres in the world.
Introducing world-class standards to the DIFC is a vital part of ensuring the centre’s success. The new legislation gives legal certainty to those institutions that locate and operate within the DIFC, and ensures that the activities that are undertaken in or from it are conducted to recognised international standards.
After reviewing the laws and regulations of the world's major financial centres, only the best examples have been considered, enhanced and adopted by the DIFC. The Laws, Regulations and Rules are written in English and benefit from extensive input from leading institutions and their professional advisers. The legislation is easy to apply, but extremely difficult to abuse.
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