A new Data Protection Law for Dubai International Financial Center (DIFC) has been approved.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced that it will come into effect on July 1.
The new law aims to develop an enabling business ecosystem with robust regulatory and compliance guidelines for organizations to follow.
It will also provide a framework that will support DIFC’s bid for adequacy recognition by the European Commission, the United Kingdom and other jurisdictions.
This will help ease compliance requirements, in terms of data transfer, for businesses operating from the financial hub.