DIFC announces new senior appointments

Entering the next phase of its plan to establish itself as the world’s newest international financial centre to match those of London, New York and Hong Kong, the Dubai International Financial Centre Authority (DIFC) today announced that Dr. Habib Al Mulla has been appointed to the role of Chairman for the Regulatory Council of the Dubai Financial Services Authority (DFSA), effective immediately. The DFSA Regulatory Council simultaneously announced that Mr. David King, Managing Director of DFSA Supervision, has been appointed to the role of Chief Executive Officer of the DFSA. Mr King has also been appointed to the Regulatory Council.

Anis Al Jallaf, Chairman of DIFC Board of Directors said, “The DIFC concept is entirely dependent on the establishment of an independent regulatory body worthy of the world’s respect and trust. I offer my congratulations to both appointees and wish them well in their new roles.”

Dr Al Mulla, said, “I am honoured to accept the role of Chairman of the Regulatory Council of the DFSA. The Dubai Government has insisted all along that an independent and world class regulator is critical to the success of the DIFC. The Regulatory Council is fully committed to this and I am looking forward to working with David and the team in taking the DFSA to the next stage of its development.”

David King added, “The DFSA has come a long way from the announcement of our establishment in 2002, but the next stage of our development is the most important as we near launch. I am proud to accept the position of CEO; it will be a privilege to work with Dr Al Mulla. I would like to thank the DIFC Authority and the Regulatory Council for their trust and I am looking forward to the opportunity to contribute to making the DIFC vision a reality.”