According to reports in the regional media, the DIFC Financial Services Authority (DFSA), which is the regulatory body for the Dubai Intenternational Financial Centre (DIFC) is currently in talks with 20 regional and international regulators with a view to securing memoranda of understanding on information exchange.
Speaking to Gulf News this week, chief executive officer of the DFSA, David King revealed that in addition to seeking an MoU with the Emirates Securities and Commodities Authority, talks with the UAE Central Bank regarding information exchange are high on the regulator's list of priorities.
The DFSA is reportedly also seeking to sign similar agreements with the monetary authorities in other GCC member states.
Speaking with regard to the progress being made in the development of the DIFC, Mr King went on to reveal that 13 operating laws have been put in place (with several more to be enacted by March), and 10 companies have so far been licensed by the DFSA to operate in the Centre.
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