Dubai Financial Services Authority (DFSA)
Dubai International Financial Centre (DIFC), Dubai, United Arab EmiratesThe DFSA is in the independent regulator of all financial services conducted in or from the DIFC, a purpose built financial free zone in Dubai.
Geographical Jurisdiction
DIFCThe DFSA’s regulatory mandate includes asset management; banking* and credit services; securities; collective investment funds; custody and trust services; commodities futures trading; equity and debenture trading; Islamic finance; insurance*; payment services and crowdfunding, as well as auditors and credit rating agencies.
- The DFSA does not licence firms that offer retail credit or wish to take deposits from the UAE market. Neither does it licence firms to underwrite direct insurance (rather than reinsurance) in the UAE market.
- Guidance on the application of laws and rules to innovative business models
- Support with authorisation to operate in our jurisdiction
- Live Sandbox testing environment
- Waivers or exemptions, for any entity meeting certain criteria
- Engagement with firms on regtech and suptech solutions
- Engagement with innovators and/or other third parties (e.g. academics, consultants and other organisations)
- Facilitating hackathons, TechSprints or similar events
- Assistance finding potential public or private sector partners / service providers (enquire for details)
Focus Area
- A business must be providing an innovative product or service;
- It must involve an activity that, if carried on in or from the DIFC, is a regulated Financial Service OR the product or service could be used by a regulated Financial Services provider in the DIFC;
- The business must be ready to start live-testing with customers; and
- The nature of the product or service would benefit from cross-border rather than single jurisdiction testing
