The UAE Ministry of Economy and Tourism and the Dubai Financial Services Authority (DFSA) have signed a memorandum of understanding to enhance regulatory cooperation and information sharing across auditors and Designated Non-Financial Businesses and Professions (DNFBPs) within their respective jurisdictions.
The agreement establishes a framework for coordinated oversight aligned with international best practices, with a joint focus on combating money laundering, terrorism financing and illicit financial activity. It also aims to strengthen supervision standards across the banking, wealth management and capital markets sectors regulated by the DFSA within DIFC.
The MoU reflects a broader push to reinforce transparency, accountability and investor confidence across Dubai and the UAE's financial services ecosystem, as both authorities deepen their collaborative approach to evolving regulatory challenges.
Gulf Economist Staff Writer