19 July 2006 — International Regulators to Meet in Dubai

Dubai, July 19, 2006: The Dubai Financial Services Authority (DFSA) today announced details of two important meetings of international regulators to be held in Dubai next year.

In February 2007 the DFSA will host a meeting of the Technical Committee of the International Association of Insurance Supervisors. The IAIS is the peak international standard setting and representative organization of insurance regulators and supervisors, with more than 180 member jurisdictions. Its Technical Committee (of which the DFSA is a member) is responsible for key strategic, policy and standard setting functions.

In December 2007 the DFSA will host the annual meeting of the Emerging Markets Committee of the International Organisation of Securities Commissions (IOSCO). IOSCO represents worldwide securities regulators drawn from 118 member jurisdictions. The Emerging Markets Committee is the largest of IOSCO's three principal committees and represents 82 jurisdictions.

DFSA Chief Executive, Mr David Knott, said: "We are delighted that the DFSA has been invited to host these prestigious meetings in Dubai. Both the IAIS and IOSCO are the leading international regulatory standard setters in their fields (insurance and securities regulation respectively).

These meetings will give the DFSA an opportunity to fully brief these important policy makers on the progress of regulatory reform within the UAE and, in particular, the successful application of international standards within the Dubai International Financial Centre."