The DIFC, a Federal Financial Free Zone which has been granted authority to self-legislate in civil and commercial areas, is specifically designed to provide a world-class regulatory regime for the creation and operation of a global financial centre.
An amendment to the UAE Constitution and a resulting federal law concerning financial free zones have allowed the government of Dubai to create a legal framework based on best practices of leading jurisdictions in Europe, North America and the Far East while maintaining the principles of efficiency, transparency and integrity.
Both the DIFC Authority and DFSA have reviewed the laws and regulations of the world's major financial centres, and with the assistance of leading professional advisers, have adopted and blended various best in class practical concepts to produce a clear, flexible and practical legislative framework.
DIFC Laws are enacted by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, and under the UAE Constitution, are considered at the level of local legislation.