Doha, Qatar: Qatar Financial Center (QFC) announced that both Abu Dhabi Global Market (ADGM) and Dubai International Financial Center (DIFC) have been mutually certified for data protection adequacy, noting that this regulatory milestone strengthens the three financial centers’ commitment to establishing a robust data protection regime and regional regulatory cooperation.
QFC said in a statement on Thursday that the mutual inclusion in their respective Data Protection Adequacy Lists followed a comprehensive assessment process undertaken with the assistance of specialist law firms to assess alignment with each jurisdiction’s data protection framework, regulatory enforcement and international best practice.
Only jurisdictions that demonstrate best-in-class data protection standards and consistently high levels of protection for personal and sensitive data are eligible.
Commenting on the announcement, QFC’s Data Protection Commissioner Daniel Patterson said: “QFC, DIFC and ADGM have simplified international data transfers across the region by mutually recognizing that a data protection framework is appropriate. “This will reduce compliance burdens and costs, while maintaining security, accountability and enforcement. This will strengthen trust, support digital trade and strengthen the Gulf region as a secure and innovation-driven platform for growth and investment.”
This initiative promotes regional harmony and highlights how cooperation between major financial centers can bring practical results to the market. It also strengthens the platform’s shared commitment to supporting the evolving needs of international business.
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