The UAE's financial community has warned that competition from Qatar may create a powerful rival to the Dubai International Financial Centre (DIFC) if market law is not developed further.
Topic DIFC Qatar Securities and Commodities Authority
New market regulations for onshore fund management from the Securities and Commodities Authority (SCA), encompassing all funds marketed outside of the DIFC's physical boundaries, have substantially increased the regulatory burden on fund managers.
The new regime is unpopular among firms based in Dubai, with some saying financial services companies outside the region may seek to establish themselves elsewhere. In the meantime, the nearby Qatar Financial Centre (QFC) appears increasingly competitive.
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