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An applicant's ability to devise and maintain appropriate systems and procedures to support, monitor and manage its affairs, resources and regulatory obligations, including sound anti-money laundering policies and procedures
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A sound business plan and the experience and qualification of the organisation and the key personnel within it
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The ability and willingness of an organisation to comply with regulations Including levels of capital adequacy, high standards of business conduct and a robust risk management system
When considering an application for a licence and assessing the fitness and the propriety of the applicant, the DFSA will also consider: •
Any matter which may harm the integrity or reputation of the DFSA or DIFC
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The activities of the applicant, the associated risks and accumulation of risks that those activities pose to the DFSA's objectives
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The cumulative effect of factors which, if taken individually, may be regarded as sufficient to give reasonable cause to doubt the fitness and propriety of an applicant. An applicant must be able to demonstrate that it has compliance arrangements, including processes and procedures that will enable it to comply with all applicable rules
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Authorised firms must comply with the Conduct of Business (COB) module which entails adherence to the following best principles and practices:
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Integrity Due skill, care and diligence Management, systems and controls Resources Market conduct Conflicts of interest Suitability Customer assets and money Relations with regulators
Trade and export facilitation The Dubai Export Development Corporation (EDC) was established to provide exporters with the services required to enter or expand into foreign markets. EDC is the trade promotion arm of Dubai Economic Department and its mission is to empower and diversify Dubai's economic growth by offering innovative pioneering export services to businesses. The strategic objectives of EDC are to maximise value of exports through Dubai and enhance the industrial sector’s contribution to GDP, widen Dubai's exporter base by support of businesses in the production of internationally competitive goods, facilitate exports into unexplored/high potential markets while accelerating market share in such target countries, and augmenting the industrial sector's export capabilities/capacities through diverse innovative initiatives that support their growth.
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