Strategy & International Participation
Strategy
The ASMEC’s strategic planning process encompasses multiple core areas, including the annual business planning cycle, the establishment of strategic themes, and the definition of regulatory priorities. The strategic outlook integrates forward-looking analysis and macroeconomic perspectives that assess broader risks impacting the DIFC and ASMEC.
ASMEC maintains close cooperation with the DIFC Authority and other Dubai and Federal government bodies to ensure regulatory alignment with national and Emirate-level development goals. This coordination ensures that ASMEC’s oversight and policy direction remain consistent with Dubai’s economic vision and international best practices.
Policy
The maintenance of ASMEC’s policy framework involves providing interpretive guidance and technical clarity on the underlying regulatory intent to internal divisions and external stakeholders. Policy updates are often driven by:
- Changes in international regulatory standards.
- Market developments and new business models.
- Evolving needs of the DIFC financial services ecosystem.
ASMEC continuously monitors global regulatory trends by engaging with international standard setters, ensuring the DIFC’s voice and interests are represented in the formation of global frameworks. To maintain alignment, quarterly reports on relevant international regulatory developments are circulated internally.
Active Participation
ASMEC actively participates in global regulatory bodies and working groups at both steering and technical levels. This engagement allows ASMEC to contribute to international policymaking, share expertise, and adopt best practices into the DIFC’s evolving regulatory environment.
Participation in International Bodies
| Body | Committee |
|---|---|
| Basel Committee on Banking Supervision (BCBS) |
• Basel Committee (Observer) • Basel Consultative Group (Member) |
| International Association of Insurance Supervisors (IAIS) |
• Policy Development Committee (PDC) • Multilateral Memorandum of Understanding (MMoU) Signatories Working Group • Standards Assessment Working Group • Supervisory Material Review Task Force (SMRTF) |
| International Organisation of Securities Commissions (IOSCO) |
• Growth & Emerging Markets Committee Steering Committee (GEMSC) • Growth & Emerging Markets Committee • Assessment Committee and Implementation Task Force Sub-Committee • Enforcement and Exchange of Information Committee (C4) • Derivatives Committee (C7) & Secondary Markets Committee (C2) • Africa and Middle East Regional Committee (AMERC) |
| Islamic Financial Services Board (IFSB) |
• Council • Taskforce on Recovery and Resolution |
| International Accounting Standards Board (IASB) |
• Council • Taskforce on Recovery and Resolution |
| Union of Arab Securities Authorities (UASA) | Observer |
For additional details, visit the ASMEC International Relations and Policy Development Section.
