INTERVIEW: DFSA's new CEO needs to balance more than his workload | ZAWYA MENA Edition

INTERVIEW: DFSA's new CEO needs to balance more than his workload | ZAWYA MENA Edition: Bryan Stirewalt has stepped into the CEO’s role at Dubai Financial Services Authority at what is a very busy time for the regulatory body overseeing Dubai International Financial Centre (DIFC).

Stirewalt, who replaced the retiring Ian Johnson as CEO in September 2018 after an eight year-stint running the regulator’s supervisory arm, not only has the forthcoming visit of the Financial Action Task Force (FATF) – the global body overseeing anti-money laundering and terrorist financing regimes – to contend with, he also has to deal with the ongoing fallout from private equity firm Abraaj Group’s collapse, and the challenge of keeping abreast with technological changes as DIFC makes its push to become a global fintech hub.

For the next three months, it is the visit by officials from Paris-based FATF in July that will occupy much of the regulator’s time. The fourth Mutual Evaluation of the United Arab Emirates will be the first to take place since the 2008 financial crisis, and although the DFSA has no jurisdiction over criminal law, as the regulator of the country’s biggest financial free zone, it has been working with a national committee to make sure that its own rules are aligned with national anti-terror financing and anti-money laundering efforts.