DIFC Corporate Brochure - Opus Private

DIFC is made of the following core bodies:I. Dubai Financial Services Authority (DFSA)The Dubai Financial Services Authority (DFSA) is an independentregulatory authority responsible for the regulation of financialand ancillary services in DIFC. Its primary functions include policydevelopment, enforcement of legislation and authorisation andsupervision of DIFC licensees. It oversees the full range of services inDIFC including asset management, banking, securities trading, Islamicfinance, re-insurance. It also regulates the Dubai International FinancialExchange. The DFSA was created using principle-based primarylegislation modelled closely on that used in London and New York, andthe DFSA regulatory regime operates to standards that meet or exceedthose applying in the world’s major financial centres.II. DIFC Authority (DIFCA)The DIFC Authority is responsible for developing strategy and providingdirection to the Dubai International Financial Centre (DIFC). Itworks to attract licensees to operate in DIFC and creates laws andregulations that govern non-financial services activities. One ofthe DIFC Authority’s main tasks is to develop the financial servicesindustry in Dubai. In January 2008, the DIFC Authority was awardedan International Organisation for Standardisation (ISO) certificationin recognition of its commitment to continuous quality managementand improvement of the services and operations at DIFC.• DIFC Investments is a wholly-owned subsidiary of DIFC Authoritycreated to launch initiatives that will support the developmentof companies in DIFC and make strategic investments andacquisitions that can fill market gaps and stimulate financialindustry growth.• The DIFC Registrar of Companies is a corporation sole, administeredby the DIFC Authority, that is responsible for incorporating andregistering all the companies that will operate within DIFC, frommulti-billion dollar financial institutions to non-financial registrantsseeking to establish a presence in the DIFC.III. The DIFC Judicial AuthorityThe DIFC Judicial Authority is an autonomous body responsible foradministering and enforcing civil and commercial laws in DIFC. The DIFCCourts, including both trial and appellate courts, deal exclusively withcases and claims arising from DIFC-registered entities.