Middle East Economic Survey


No 47



Dubai Enacts DIFC Trust Law

The Dubai Financial Services Authority (DFSA) announced on 15 November that Vice-President and Prime Minister of the UAE and Ruler of Dubai Shaikh Maktoum bin Rashid al-Maktoum had enacted Law No 11 of 2005 for the Dubai International Finance Center (DIFC). The law, made up of 10 major sections, provides a fundamental framework for the creation of trusts in the DIFC, and deals with choice of governing...