A media report published on Sunday has revealed that Dubai’s financial regulator, the Dubai Financial Services Authority (DFSA), has joined global capital market regulator, the International Organisation of Securities Commissions (IOSCO).
According to the DFSA’s chairman, Habib Al Mulla, the move to join IOSCO is intended to advance the “highest standards of regulation and governance” in the Emirate, a statement obtained by Reuters explained.
With the DFSC set to become the regulator for the Dubai International Financial Exchange (DIFX), which hopes to become the major exchange between Europe and East Asia when it opens its doors to traders in September 2005, analysts believe that the move is intended to send a signal to global investors over the security of Dubai’s financial environment.
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