DIFC given broader remit under new law
- Date: 06-May-2021
- Source: The National
- Sector:Financial Services
- Country:UAE
DIFC given broader remit under new law
Sheikh Mohammed Bin Rashid, Vice President and Ruler of Dubai, passed a new law that broadens the scope of responsibilities for Dubai International Financial Centre, the emirate's financial free zone.
The new law replaces regulations put in place when the DIFC was established in 2004 and provides greater clarity on the role of its president, governor, the centre itself and the bodies within it, according to a Dubai government media office statement.
"It also ensures the centre's operational, financial and administrative independence that is crucial for the continued growth and success of the centre," the statement said.
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