Highlight on the Dubai Economic Security Centre
In order to protect Dubai’s economy from financial risks and crimes, Law No (4) of 2016 on the Dubai Economic Security Centre was issued by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai, Vice President and Prime Minister of the UAE.
The new Law has come into force upon its publication in the Official Gazette on May 15th, 2016.
The purpose behind the creation of the Dubai Economic Security Centre (DESC) is to minimize illegal and harmful activities within Dubai’s financial markets, protect investors from risks and predict and manage risks and negative economic practices which could threaten the stability of Dubai’s economy.
The DESC’s structure
The DESC shall comprise an executive authority including an Executive Director as well as administrative, financial and technical staff members. The Executive Director shall be appointed by the Chairman of the Dubai Executive Council.
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