Dubai International Financial Centre becomes region’s first fully accredited member of Global Privacy Assembly

  • Accreditation reflects DIFC’s commitment to keeping Dubai and DIFC at the forefront of privacy legislation, applying international  best practice

Dubai, UAE, 13th October 2020: Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region has announced that the Centre is now a fully accredited member of the Global Privacy Assembly. 

The appointment follows the enactment of the Data Protection Law, DIFC Law No 5. of 2020 which underscores DIFC’s commitment to applying international best practice. It also reinforces key privacy principles including accountability, safeguards for international transfers, and support of data subjects’ rights especially with respect to emerging technology issues. 

The Global Privacy Assembly is an international group, established in 1979 as the premier global forum for data protection and privacy authorities. The Assembly is comprised of more than 130 leading global Information and Privacy Authorities and Commissioners. Led by the UK’s Information Commissioner’s Office, it is an independent authority set up to uphold information rights in the public interest, promoting openness by public bodies and data privacy for individuals. 

DIFC will work with GPA Members to implement global best practice within data protection and privacy to support sustainable business growth and shape the future of finance, whilst effectively fulfilling privacy mandates.

Jacques Visser, Commissioner of Data Protection at DIFC Authority, commented: “We are pleased to announce that DIFC is the region’s first fully accredited Member of the Global Privacy Assembly. We continue to work relentlessly to deliver comprehensive privacy legislation that is at the forefront of global standards and supports our commitment to drive the future of finance. The accreditation will enable DIFC to build on the Centre’s reputation as a leading global financial centre focused on innovation and collaboration, whilst also promoting ethical data sharing.”

About Dubai International Financial Centre

Dubai International Financial Centre (DIFC) is one of the world’s most advanced financial centres, and the leading financial hub for the Middle East, Africa and South Asia (MEASA), which comprises 72 countries with an approximate population of 3 billion and a nominal GDP of USD 7.7 trillion.

With a 16-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe and the Americas through Dubai.

DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region’s largest financial ecosystem of more than 25,000 professionals working across over 2,500 active registered companies – making up the largest and most diverse pool of industry talent in the region.

The Centre’s vision is to drive the future of finance. Today, it offers one of the region’s most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups.

Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels and public spaces, DIFC continues to be one of Dubai’s most sought-after business and lifestyle destinations.

Related posts

Top