Islamic Finance

Dubai opens consultation process on proposed trust law, foundation law

| 10 October, 2017

Dubai International Financial Centre (DIFC) has opened a consultation process for its proposed trust law and foundation law for both the conventional and Shariah-compliant sectors, United Arab Emirates state news agency WAM reported today. 

The proposed laws primarily cover private wealth management operating environments and succession planning, according to the WAM report. 

The consultation process will run for 30 days and close on November 8, 2017. 

DIFC is a state-owned free zone with an independent regulator. It offers tax exemptions and its own judicial system.

The proposed laws can be found here.

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