Home   Browse contents   View updates   Search  
     Quick search
Go
   

Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
2009
12 October 2009 — DFSA Consults on Islamic Finance Rules in the DIFC
Notices
Financial Markets Tribunal
Archive

Whole SectionText only Print Print Manager Link


  Versions
(1 version)
 
Oct 12 2009 onwards

12 October 2009 — DFSA Consults on Islamic Finance Rules in the DIFC



Dubai, UAE, 12 October 2009: The Dubai Financial Services Authority (DFSA) issued last week a Consultation Paper setting out proposals to enhance clarity and accessibility of the Islamic finance Rules of the Dubai International Financial Centre (DIFC).

Consultation Paper No. 66, which is posted on the DFSA website www.dfsa.ae, seeks public comment on the proposed restructuring of the Islamic finance Rules and also on a web-based "virtual handbook". These proposals aim to better promote the visibility and accessibility of the DFSA's regulatory requirements that apply to Islamic financial activities which are currently contained in a number of DFSA Rulebook modules. The proposals do not contain any substantial changes to the existing requirements. The deadline for comment is 10 December 2009.

Mr Paul Koster, Chief Executive of the DFSA said, "The DIFC aims to be the leading international centre for Islamic finance. The DFSA has put in place a first-class regulatory regime based on international standards. In line with our commitment to transparency and efficiency, we are now making that regime more accessible, and easier for the industry to use, so that Islamic finance can grow and prosper here."