About the Gulf regulators

The QFCRA is an independent statutory body which reports directly to the Council of Ministers. It regulates and supervises the full spectrum of financial services activities conducted in or from the QFC. These include all types of banking, insurance, asset management, financial advisory services, securities and derivatives dealing, and Islamic finance.

The Central Bank of Bahrain is the central bank and single regulator for the financial services industry in the Kingdom of Bahrain. More than 300 banks, insurance companies and other financial institutions, applying both traditional and Islamic principles, have offices in the state. Until October 2006, it was known as the Bahrain Monetary Agency.

The Dubai Financial Services Authority is the independent regulator for the Dubai International Financial Centre. It authorises, licenses and registers institutions and individuals that wish to conduct financial and ancillary services in or from the DIFC. It supervises regulated participants and monitors their compliance with the laws, regulations and rules that apply. It is also responsible for enforcing the legislation that it administers.

The Central Bank of the UAE, which was founded in 1980, is responsible for the formulation and implementation of banking, credit and monetary policy. It supports the dirham and acts as financial and monetary adviser to the Government.

The Capital Market Authority of Egypt is an independent regulator with responsibility for supervising financial markets. It also regulates takeovers and acquisitions, listing, enforcement and authorisation. The regulator was founded in 1979. In September 2006, the regulator signed a memorandum of understanding with the DFSA.

The Capital Market Authority of Saudi Arabia is responsible for regulating and developing the kingdom's capital market. It was established by the Capital Market Law and is a government organisation with financial, legal and administrative independence. It reports directly to the prime minister. Among other things, it has responsibility for authorisation and inspection, supervision, enforcement and corporate finance.