Law No. (5) of 2021 concerns the Dubai International Financial Centre (DIFC) and defines key terms related to its operation. It establishes the legal framework for the DIFC, referencing previous laws and regulations governing financial free zones and related bodies within the Emirate of Dubai. The law outlines the scope and definitions relevant to the DIFC's activities.
Key requirements
- Reference must be made to the original Arabic text for interpretation and application of the law.
- DIFC Bodies include the DIFCA, the DFSA, the DIFC Courts, and any other body established under the DIFC Laws, or established upon approval of the President as independent or affiliated entities of the said bodies.
- Financial Services are defined as financial activities and services which require regulation by the DFSA under the DIFC Laws and the DIFC Regulations.
Applies to: Entities operating within or regulated by the Dubai International Financial Centre (DIFC), including the DIFCA, DFSA, and DIFC Courts.