Consultation Papers

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Public Consultation | ASMEC

Public Consultation

ASMEC initiates policy proposals from sources such as feedback from DIFC firms, the European Union, and international standard setters, including:

IOSCO FATF IAIS Basel Committee on Banking Supervision

By law, ASMEC consults the public for at least 30 days on any proposed legislation, unless a delay would be prejudicial to the interests of the DIFC.

We publish our Consultation Papers on our website and invite comments from the public. Each paper includes a summary of the draft legislation and the purpose of the proposal. After evaluating public comments—and consulting with the Dubai Government (the Supreme Legislation Committee) and DIFCA— the ASMEC Board of Directors approves the legislation.

Draft Laws

When the proposed legislation is a Law, the ASMEC Board of Directors may recommend the approved draft to H.H. the DIFC President so it may be submitted to H.H. the Ruler for consideration and, if approved, enactment.

Draft Rules

When the proposed legislation is a Rule or a Code, the ASMEC Board of Directors has the power to make and issue it.

Publication of Consultation Papers

We publish all past and current Consultation Papers on our website. Browse them here: Consultation Papers.

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