Dubai International Financial Centre Strengthens Dubai’s Position as a Global Hub for Digital Economy

The Dubai International Financial Centre (DIFC) has announced its new membership in the “Global Forum on Cross-Border Privacy Rules,” a significant milestone for the leading financial hub in the Middle East, Africa, and South Asia.

This announcement was made during a recent workshop held at the “Global Forum on Cross-Border Privacy Rules” in the Philippines. It marks the first time that countries outside the Asia-Pacific Economic Cooperation (APEC) forum have participated in this initiative, which promotes free trade among certain countries in the Pacific region. As part of the membership requirements, DIFC has also joined the International Cooperation Agreement on Privacy Enforcement (CAPE).

This development reinforces DIFC’s commitment to establishing comprehensive, responsive, and reliable privacy frameworks in line with the evolving needs of businesses and individuals globally. It also contributes to the growth of the digital economy both in Dubai and the UAE, aligning with the national digital economy strategy.

The membership is expected to facilitate greater global trade while ensuring secure and transparent cross-border data flows, thereby maintaining trust.

Commenting on the occasion, Arif Amiri, CEO of DIFC Authority, stated, “DIFC’s membership in the ‘Global Forum on Cross-Border Privacy Rules’ (CBPR) as the first jurisdiction in the region is a recognition of our continuous efforts in enhancing data protection and privacy. In the digital age, marked by global interconnectivity and rapid technological advances, information is widely available and can be shared instantaneously. This has compelled businesses, especially in the financial sector, to manage unprecedented volumes of personal data on a daily basis both electronically and internationally. DIFC has established regulations and compliance frameworks for over 8,000 registered companies, reflecting Dubai’s ongoing commitment to global standards and its vision of leading the digital economy.”

The “Cross-Border Privacy Rules” (CBPR) system certifies organizations’ compliance with specific requirements for the transfer of personal data across borders. This system has been operational under the APEC framework since its inception. In 2022, the establishment of the “Global Forum on Cross-Border Privacy Rules” (CBPR) was announced, creating a framework that extends beyond the APEC region, aiming to facilitate broader cross-border personal data transfers and enhance regulatory alignment among jurisdictions worldwide.

In 2023, DIFC launched regulation number 10, a pioneering set of guidelines in the Middle East, Africa, and South Asia regarding the processing of personal data through independent and semi-independent systems, such as artificial intelligence or generative machine learning technology. This initiative lays the groundwork for a more collaborative and transparent platform to harmonize the various principles and guidelines issued by governments and non-governmental organizations. Establishing an integrated operational environment for applying the ‘most suitable’ principles in the development of AI technologies is essential, responsible, and ethical for handling personal data within these systems.

DIFC’s recent membership in the “Global Forum on Cross-Border Privacy Rules” (CBPR) follows its participation in the “Global Privacy Assembly” (GPA) meeting held in September this year in Seoul, South Korea. During this event, the Data Protection Commissioner of DIFC signed cooperation agreements with Brazil, the Isle of Man, Uganda, and Kenya. These agreements are particularly significant as DIFC prepares to host a conference on risk governance, compliance, data protection, and privacy at the regional level on December 8 and 9, 2025. This will lead up to DIFC hosting the “Global Privacy Assembly” conference in Dubai during the same week in 2026. The “Global Privacy Assembly” comprises over 130 authorities dedicated to data privacy protection and serves as a global platform for establishing standards and fostering collaboration among regulators across various jurisdictions.

Business

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