DIFC Trust Law issued

Notes and media contacts

The Dubai Financial Services Authority (DFSA) is a critical component of the Dubai International Financial Centre (DIFC), a new financial centre established to position Dubai as a recognised hub for institutional finance, and the regional gateway for capital and investment to the Middle East.

The DFSA is an independent, integrated regulatory authority responsible for the regulation of all financial and ancillary services conducted in or from the Centre, including asset management, banking, securities trading, Islamic finance, re-insurance, and an international financial exchange. The DFSA has been created using principle-based primary legislation modeled closely on that used in London and New York, and the DFSA regulatory regime operates to standards that meet or exceed those applying in the world's major financial centres.

Mr. David Knott is a former Chairman of the Australian Securities and Investment Commission and was Chairman of the Technical Committee of the International Organization of Securities Commissions (IOSCO). He was appointed Chief Executive of the DFSA on 20th March 2005.

For further information, please contact:
Stephen Worsley/Shilpa Mathai
Polaris Public Relations
Dubai, UAE.
Tel: + 9714 - 3348520
Fax: + 9714 - 3341326