The DFSA moves to accelerate Islamic Finance sector growth in DIFC, consulting on framework enhancement to provide greater clarity and strengthen regulatory guidance

Last Update: Tuesday, May 5, 2026 : 15:02 (+4GMT)

The Dubai Financial Services Authority (DFSA), the independent banking, financial services, and markets regulator of Dubai International Financial Centre (DIFC), today launched a public consultation on proposed enhancements to its Islamic finance regulatory framework.

The consultation, which seeks to provide greater clarity on endorsement requirements and disclosure standards, signals a regulatory development that aligns with broader national objectives, including the UAE Strategy for Islamic Finance and Halal Industry and Dubai's Economic Agenda (D33) to strengthen the UAE's position as a global hub for international Islamic finance.

Consultation paper No 172 (CP 172) proposes clearer guidance on when Authorised Persons (Authorised Firms or Authorised Market Institutions) require an endorsement to conduct Islamic financial business, strengthened disclosure requirements for Takaful (the Shari'a-compliant mutual insurance system where members share risk and support each other), and targeted technical amendments to the Islamic Finance Rules (IFR) module of the DFSA Rulebook.

Posted by: GoDubai PR Dept
Viewed: 604 times
PR Category: Local & Government News
Posted on: 5 May 2026 3:02:00 PM (GMT+4)

Previous Article Tawazun and Lockheed Martin sign an agreement to establish a Cybe... Next Article Dubai Culture and LinkedIn Open the Door to Future Skills for Dub...