Dubai launches regulatory framework for crowdfunding
On 1 August, the Dubai Financial Services Authority (DFSA) launched its regulatory framework for loan and investment-based crowdfunding platforms, the first such framework in a Gulf Cooperation Council country. The regulations aim to ensure clear governance for FinTech businesses and provide appropriate protection for their customers. They also formalise the DFSA’s approach to regulating crowdfunding platforms which had operated through interim arrangements since 2016. The framework has not been officially released as yet so we will publish a link to the regulations when available.