Dr. Habib Al Mulla, Chairman of the Dubai Financial Services Authority, met with Dr. Hani Sare-elddin, Chairman of Egypt’s Capital Markets Authority (ECMA) during a visit to Egypt.
Dr. Al Mulla and Dr. Sare-elddin discussed aspects of mutual co-operation between the DFSA and the ECMA. Both parties agreed to sign a MOU to regulate the sharing of information and the exchange of technical expertise to enhance and promote the regulatory roles of both entities.
Dr. Al Mulla also visited the Cairo Stock Exchange and met with its Chairman Dr. Maged Shawky. They discussed the activities of the Egyptian Capital Markets, its role and structure, and the methods of co-operation between the DFSA and the Cairo Stock Exchange.
The Dubai Financial Services Authority (DFSA) is a central component of the Dubai International Financial Centre (DIFC), a new financial centre established to position Dubai as a recognised hub for institutional finance, and the regional gateway for capital and investment to the Middle East.
The DFSA is an independent, integrated regulatory authority responsible for the regulation of all financial and ancillary services conducted in or from the Centre, including asset management, banking, securities trading, Islamic finance, re-insurance, and an international financial exchange. The DFSA has been created using principle-based primary legislation modelled closely on that used in London and New York, and the DFSA regulatory regime operates to standards that meet or exceed those applying in the world's major financial centres.
