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27 September 2006 — DFSA Law enacted by Ruler receives Best Government Initiative of the Year award

London, September 27, 2006: In a remarkable international recognition, the DFSA has received the "Best Government Initiative of the Year" award from the Society of Trust and Estate Practitioners (STEP). The DFSA received this prestigious award for the excellence of its Trust Law, which was enacted by the Ruler on 9 November 2005. This prestigious award, judged by a distinguished panel of independent industry practitioners and experts, was received by Roberta Julfar, DFSA Legislative Counsel, at the award ceremony held at the Grosvenor House Hotel in London.

Commenting on this, Dr Habib Al Mulla, DFSA Chairman, said: "The receipt of this award is yet another acknowledgment of the quality of the laws and the legislative framework that the DFSA has put in place. The DIFC is striving to be the international financial hub of the region and the world class legislation that has been put in place is a crucial element. This award is international recognition that our laws are of world class standard. To have received a highly valued industry award from STEP is a vote of confidence in respect of our policy direction and leadership. I congratulate the staff of the DFSA whose work has led to this significant award."