Mohammed bin Rashid Amends DIFC Law

Vice President and Prime Minister His Highness Sheikh Mohammed bin Rashid Al Maktoum, has issued in his capacity as Ruler of Dubai a law amending law 9 for 2004 on Dubai International Financial Centre.

The law stipulates replacing texts of articles 3 and 5 of the law with the respective texts: Article 3: The DIFC shall have the following entities: A. Dubai International Financial Centre Authority B. Dubai Financial Services Authority C. DIFC Courts Article 5: The DIFC shall have a Board of Directors headed by the Chairman, with members who are appointed by virtue of a decree by the Ruler. The members shall include the Governor and Chairmen of the authorities mentioned in article 3.