DIFCA releases new regulations

Dubai: The DIFC Authority (DIFCA) on Monday released for public consultation the "Exempt Companies Regulations", a new set of regulations proposed under the Companies Law of 2006 and the Insolvency Law of 2004.

The new regulations are designed to assist financial institutions to carry out, among other things, securitisation transactions using the existing DIFC legal and regulatory framework.

Commenting on the imminent adoption of these regulations, Dr. Omar Bin Sulaiman, Governor of DIFC, said: "With the increasing number and growing sophistication of transactions taking place in the Dubai International Financial Centre, the DIFC has again proved its commitment to international best practices - this time in the area of securitisation and other structured finance transactions. Through the adoption of these regulations, the DIFC demonstrates its willingness to support key players in their sectors of activity and respond to their requirements in a flexible manner."