IslamicFinance.de

The Dubai Financial Services Authority (DFSA) recently concluded a thematic review of the corporate governance of firms licensed to provide financial services in the Dubai International Financial Centre (DIFC). The review focussed on twelve themes fundamental to good corporate governance including management structures and practices, systems and controls, internal audit and management information flows. This review is the first full scale corporate governance review and is the first occasion on which the DFSA has issued a Report on this subject. A significant finding of the review, documented in the Report, was that firms often did not carry out structured, periodic reviews of their Governing Bodies and their committees, or their effectiveness.