DFSA is to Appoint Lord Home to its Board

Dubai Financial Services Authority (DFSA) plans to take another major step forward as an international financial regulator with the appointment to its Board of the Earl of Home.

Lord Home, son of the former British Prime Minister Sir Alec Douglas-Home, will bring another dimension to what is already a highly experienced international Board governing Dubai's independent regulatory authority.

He has held both senior business and senior political posts. His business career has encompassed the chairmanship of Morgan Grenfell International, a directorship of Deutsche Morgan Grenfell, chairmanship of Coutts, the famous private Bank, and a directorship of MAN Ltd., the UK Subsidiary of MAN AG of Germany.

Lord Home, aged 61, has also been a Trade & Industry spokesman for the Conservative Party in the UK House of Lords.

Dr. Habib Al Mulla, chairman of the DFSA, said

"I am delighted that Lord Home has agreed to join the Board of the DFSA. His wide international experience at senior level will be a timely addition to our already significant dept and breadth of international financial expertise."

"The pace of our operations is accelerating, as more and more international institutions and professional firms seek to obtain Licences to operate inside the Dubai International Financial Centre (DIFC)."

"We are now close to finalising the second batch of laws. When that happens we will have almost completed all the major laws and regulations to govern the operations of the DIFC. With the opening of the Regional Exchange expected in September, our aim is to manage what will be a large volume of regulatory work without compromising our high standards."

"The DFSA board’s policy is to attract people of high expertise and calibre. This new appointment will help us achieve that goal."

Lord Home said:

“I am delighted and privileged to be asked to join the Board of the DFSA. I hope to be able to contribute constructively to their deliberations.”