The DFSA brings 18 authorities together to discuss AI and cybersecurity risks
Dubai, United Arab Emirates: The Dubai Financial Services Authority (DFSA), the independent regulator of the Dubai International Financial Centre (DIFC), hosted this week its inaugural high-level Regulatory College at the heart of the Dubai FinTech Summit 2025.
The closed-door session titled 'Innovation with integrity: Advancing Cybersecurity and AI oversight through international dialogue ' brought together more than 30 regulators from 18 Authorities from the UAE, the wider GCC region, and international jurisdictions to discuss pressing issues related to cybersecurity and artificial intelligence (AI).
The DFSA Regulatory College marked a full day of engagements focused on knowledge-sharing, supervisory alignment, and proactive dialogue amongst regulators. Participants explored the emerging challenges and opportunities posed by advanced technologies such as post-quantum cryptography, and agentic AI, with a particular focus on how regulatory frameworks can evolve to safeguard financial stability and protect investors in a fast-changing digital landscape.
Justin Baldacchino, Managing Director, Supervision, DFSA, who opened the DFSA Regulatory College, said: 'Technology is transforming financial services at an unprecedented pace, and it is vital that regulators keep pace – not in isolation, but together. The DFSA is proud to lead this global conversation, bringing together regulators from multiple jurisdictions across the the United Arab Emirates, GCC, and international jurisdictions to discuss and share learnings on cybersecurity and AI oversight, seize opportunities, and shape the collective vision for the future of finance.'
The DFSA's Regulatory College builds on its broader efforts to support responsible innovation through initiatives such as its Innovation Testing Licence, now expanded to include tokenisation, and its active participation in international forums including the Global Financial Innovation Network and the International Organization of Securities Commissions' (IOSCO) FinTech Taskforce Working Groups on AI and crypto assets. These efforts align with Dubai and the United Arab Emirates' strategic ambition to be a leading global centre for innovation, while ensuring that the market is grounded in regulatory integrity and risk awareness.
In parallel with the Regulatory College, the DFSA engaged widely with participants at the Dubai FinTech Summit through multiple platforms:
Leading the Regulatory Forum sessions on Day 1, with topics and speakers curated to shape global regulatory dialogue on AI, tokenisation, and stablecoins. Elisabeth Wallace, Associate Director, DFSA, who moderated a fireside chat on how regulators are shaping the future of AI in finance with Kristin Johnston, Commissioner, US Commodity Futures Trading Commission (CFTC), said ' As AI becomes more embedded in the financial services market, many global regulators, including the DFSA and CFTC, are looking at how they can support innovation in this area while not stifling innovation and not at the expense of consumer protection and market integrity.'
Connecting with delegates at the DIFC exhibition stand to discuss the Innovation Testing Licence, Tokenisation Regulatory Sandbox, Threat Intelligence Platform, and the DFSA's regulatory approach to crypto and digital assets – among other key initiatives.
Exchanging views on emerging priorities with industry stakeholders through roundtable discussions on key topics such as wealth management, crypto regulation – including a session co-hosted with the Global Blockchain Business Council – and sustainable finance.
Curating DFSA Talks, a series of discussions covering key regulatory topics including supervisory technology, DFSA's authorisation process, and AI policy developments.
The DFSA's broad-based participation at the Dubai FinTech Summit 2025 highlights its role as a catalyst for responsible innovation, regulatory integrity, and international cooperation – and reflects its continued commitment to supporting Dubai and the United Arab Emirates' position as a global fintech hub, while ensuring the stability, integrity, and resilience of the DIFC's financial ecosystem.
For further information, please contact:
Corporate Communications
Dubai Financial Services Authority (DFSA)
Level 13, The Gate, West Wing
Dubai, UAE
Email: DFSAcorpcomms@dfsa.ae
https://www.dfsa.ae/
About:
The Dubai Financial Services Authority (DFSA) is the independent regulator of financial services conducted in and from the Dubai International Financial Centre (DIFC), a purpose-built financial free zone in Dubai, UAE. The DFSA regulates and supervises financial services firms and markets in the DIFC. These include asset managers, banks, custody and trust services, commodities futures traders, fund managers, insurers and reinsurers, traders of securities and fintech firms. We supervise exchanges and trading platforms for both conduct and prudential purposes, overseeing an international securities exchange (Nasdaq Dubai) and an international commodities derivatives exchange (Gulf Mercantile Exchange). The DFSA is also responsible for supervising and enforcing anti-money laundering and countering the financing of terrorism requirements applicable in the DIFC. Please refer to the DFSA's website for more information.
Justin Baldacchino is the Managing Director of Supervision at the DFSA, bringing 25 years of international finance experience. He possesses deep expertise in regulatory interpretation, liaison, implementation, risk, regulatory affairs, compliance, anti-money laundering (AML), capital, liquidity, innovation, and technology. Joining the DFSA in 2020, Mr Baldacchino previously served as the Group Head of Regulatory Compliance for ANZ Bank in Australia and held various senior roles at JP Morgan in Hong Kong, including Head of Regulatory Compliance, Asia-Pacific, and Head of International Operational Risk, Asia-Pacific. He also served as Head of Compliance and Risk Governance, Asia for National Australia Bank in Hong Kong. Mr Baldacchino is an alumnus of Melbourne Business School with an MBA and a Post Graduate Diploma, and he holds a Bachelor of Economics from La Trobe University. He completed the Harvard Executive Programme in Regulatory Strategic Management and is a certified AML Specialist. He has served as an Executive Board Member for the Association of Certified Anti-Money Laundering Specialists and is currently a member of The Basel Consultative Group.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Business
23 minutes ago
- Arabian Business
Analysis: UAE's massive AI investment could redefine its economic future
The United Arab Emirates is betting heavily on artificial intelligence as part of a sweeping economic transformation plan, signing multibillion-dollar technology deals and launching a landmark AI partnership with the United States amid growing global uncertainty. and a broader $1.4 trillion investment commitment over the next decade, underscoring the UAE's intent to anchor its non-oil economy in advanced technologies, including AI, semiconductors and cloud computing. Central to the initiative is the newly announced US-UAE AI Acceleration Partnership, aimed at deepening bilateral cooperation on artificial intelligence and related infrastructure. As part of the effort, the UAE secured a deal to import up to 500,000 Nvidia H100 chips annually, a cornerstone component in generative AI systems. 'Bilateral trade talks focused on artificial intelligence, advanced technologies, and semiconductors, culminating in the launch of the US-UAE AI Acceleration Partnership,' said Vijay Valecha, Chief Investment Officer at Century Financial. The Gulf nation also plans to invest in major U.S. AI firms including OpenAI and xAI, while Abu Dhabi-based Group 42 will build a 5-gigawatt AI data centre, set to become the largest of its kind outside the United States. Diversification drive The AI push forms part of a broader strategy to diversify the UAE economy away from hydrocarbons. Non-oil sectors accounted for 75 per cent of GDP in the first nine months of 2024, according to the UAE Ministry of Economy, with the non-oil economy expanding 4.5 per cent, outpacing overall GDP growth of 3.8 per cent. 'The UAE's projected 4.5 per cent growth in 2025 stands in sharp contrast to a global outlook marked by mounting risks and downward revisions,' Osama Al Saifi, Managing Director for MENA at Traze, told Arabian Business. 'This divergence is largely explained by the UAE's strong performance in non-oil sectors, supported by expansion in tourism, transport, construction, and financial services, as well as sustained momentum in foreign direct investment and trade.' The International Monetary Fund expects the UAE's economy to grow by 4 per cent in 2025 and 5 per cent in 2026, making it the fastest-growing economy in the Gulf Cooperation Council. In contrast, global trade growth is forecast to slow to 1.7 per cent this year, with a possible recession in the U.S. or Europe still looming, according to analysts at JPMorgan and Fitch. Hedge against external shocks The timing of the UAE's AI investment spree coincides with a deteriorating global economic outlook. While a potential recession in major Western economies would weigh on oil demand and trade, analysts say the UAE is better positioned than most to weather external shocks. 'The region is better equipped than in previous cycles, though not entirely shielded,' Al Saifi said. 'A recession in the U.S. or Europe would likely exert downward pressure on global oil demand and weigh on fiscal performance. Nevertheless, substantial sovereign wealth assets, contained inflation, and firm domestic demand provide a degree of protection.' The UAE's inflation rate is expected to remain stable at around 2 per cent in 2025, with consumer spending forecast to expand 4.3 per cent, supported by easing interest rates and robust domestic demand, Al Saifi added. 'A mild recession in the U.S. and parts of Europe during the second half of the year is increasingly likely, as the delayed effects of tight monetary policy, persistent inflation, and weakening manufacturing data converge,' Hamza Dweik, Head of Trading at Saxo Bank MENA, told Arabian Business. 'However, the UAE's strong macroeconomic fundamentals, active IPO pipeline, and diversified revenue streams position it as a relative safe haven in the global landscape.' Despite global volatility, UAE financial markets have shown resilience. Dubai F inancial Market (DFM) welcomed 19,366 new investors in Q1 2025, of whom 86 per cent were foreign nationals. Trading activity surged, with average daily trading value reaching AED 663 million, up 67 per cent year-on-year, according to Century Financial. UAE equity valuations also remain below historical averages. The DFMGI index trades at a trailing P/E of 9.5x, about 16.5 per cent below its five-year average, while the ADSMI index is down 16.3 per cent from its historical norm. 'The indices appear undervalued considering the UAE's solid fundamentals and growth trajectory,' said Valecha. 'With over 74 per cent of GDP coming from non-oil sectors closely linked to market performance, equity markets deserve a better valuation.' Strategic positioning The UAE's AI ambitions are not solely economic. Investments in U.S. data infrastructure, semiconductor supply chains, and critical mineral projects are helping strengthen bilateral strategic ties. Abu Dhabi's $25 billion partnership with Energy Capital Partners, and a $60 billion energy cooperation framework with ExxonMobil and Occidental Petroleum, indicate a multipronged strategy that blends AI leadership with industrial leverage. 'Technology will be central to the UAE's next growth cycle – AI, green innovation, digital finance – these are the sectors that will help insulate the economy from external volatility,' Al Saifi said. PwC estimates the AI sector could contribute over $320 billion to the Middle East economy by 2030, with the UAE positioned to capture the lion's share through early infrastructure deployment, regulatory reform and foreign investment attraction. 'Sectors with strong global linkages – such as logistics, real estate (particularly off-plan investment-driven projects), and non-oil exports like aluminum and petrochemicals – are most vulnerable to a potential U.S. recession,' Dweik said. He added that sectors like tourism, hospitality, and sovereign-backed infrastructure projects are expected to remain resilient, supported by 'robust domestic demand and long-term strategic initiatives.' 'The projected non-oil GDP growth of 4.6 per cent in 2025 indicates the ongoing success of diversification and structural reform initiatives,' Valecha added. Dweik echoed his sentiment, adding that diversification remains essential in the current economic environment. 'Investors should consider blending traditional and alternative assets, such as sukuk, infrastructure, and private equity, while also diversifying geographically… Allocating capital across resilient sectors like healthcare, technology, and tourism will help regional investors navigate uncertainty.'
Gulf Today
33 minutes ago
- Gulf Today
Experts discuss AI integration into education
Experts in the fields of education and artificial intelligence (AI) discussed the key challenges and opportunities ahead, including integrating AI into the curriculum and its broader impact on students. The panel discussion was organised by the British Chamber of Commerce Dubai (BCCCD) and addressed by Katy Holmes, CEO of BCCD, Naz Panju, CEO of British Canadian International Education Ltd, Sarah Guerra, Co-Founder and CEO of Cloud Fusion AI, Baz Nijjar, Vice President – Education Technology and Digital Innovation at GEMS Education, Radha Bharj, CIPD AI Subject Matter Expert and Founder of The Future of Work Management Consultancies FZCO and Prof. May El Barachi, Dean of Computer Science at the University of Wollongong in Dubai. Katy Holmes, said, 'The UAE's decision to embed AI into public schools reflects its wider ambition to lead in innovation and future-readiness. Within the Chamber, we are closely following developments in AI and their impact across sectors. The Chamber embraces its role to help bridge the gap between academia and industry by creating an open forum for knowledge-sharing and discussion. As AI becomes more deeply embedded in education, it's vital that educators and employers stay aligned to ensure future graduates are equipped with the right mix of technical and human skills.' Among the opportunities of integrating AI into the classroom is the personalisation of learning, according to Naz Panju, CEO of British Canadian International Education Ltd. She said, 'The leading intervention to improve student performance is personal tutoring, and AI offers the opportunity for every child to have a one-on-one personal tutor that works at their own pace.' Sarah Guerra, Co-Founder and CEO of Cloud Fusion AI, highlights the opportunities to help monitor performance and predict learning trends to facilitate better informed decisions in education planning. She said, 'Our platform provides real-time data reporting on student performance. It can also forecast future academic development to create tailored solutions based on each student's learning needs and provide data-driven insights that enable institutions to make more strategic decisions in line with KHDA benchmarks.' Contrary to concerns that AI will dilute the development of essential skills, Baz Nijjar, Vice President – Education Technology and Digital Innovation at GEMS Education, said that, when used in the right context, the technology will enhance learning. He explained, 'AI tools can offer a different way to develop skills that are already being taught.
Zawya
an hour ago
- Zawya
Trinasolar reaffirms Tier 1 status in BNEF Q2 2025 list
Dubai, UAE – Trinasolar has once again secured its position in the BloombergNEF (BNEF) Tier 1 list for Q2 2025, reaffirming its exceptional bankability, industry-leading technologies, and robust shipment of its 210mm modules. This recognition further cements Trinasolar's reputation as a global leader in smart solar and energy storage solutions, trusted across global markets. The BNEF Tier 1 List is widely recognized as one of the most authoritative and influential rankings in the solar industry. It serves as a key reference for industry trend analysis and investment decisions. Starting in Q2 2025, BNEF has raised the eligibility threshold for solar project size from 5MW to 10MW, significantly tightening the selection criteria. Trinasolar's sustained presence on the list under these stricter standards highlights its robust financing capability, trusted brand reputation, and resilient global performance. As an active promoter of the 210mm product technology platform, Trinasolar has pioneered in the shipment of 210mm modules. By the end of 2024, global shipments of 210mm modules reached 380GW, with Trinasolar's 210mm modules contributing approximately 170GW, maintaining its top position worldwide. Renowned for their exceptional conversion efficiency, high reliability, and superior energy yield, Trinasolar's 210mm modules have been widely used across diverse application scenarios, earning trust and popularity among customers worldwide. In late 2024, Trinasolar launched i-TOPCon Ultra technology, now featured in its Vertex N modules. This advancement boosted module power output by 30 to 40W, marking the company's leadership in ushering the solar industry into the TOPCon 2.0 era. As a global leader in PV and energy storage solutions, Trinasolar has earned strong recognition for its exceptional bankability: Trina Storage, a business unit of Trinasolar, has been named as the Global Tier 1 Energy Storage Manufacturer in BNEF Tier 1 List for sixth consecutive quarters. Trina Storage was recently featured in the S&P Global 2024 Battery Energy Storage System Integrators ranking as well. Trinasolar's dedication to product reliability and performance continues to receive industry-wide recognition. Recently, Trinasolar has been honored with TOP Performer for the 11th consecutive years by Kiwa PVEL at Intersolar Europe 2025, reaffirming the high reliability and excellence of its products. As the solar industry moves toward higher standards and more stringent financing criteria, Trinasolar continues to deliver high-efficiency, highly reliable products and tailored solutions for global customers, advancing its mission to 'Solar energy for All' and contributing to a net-zero world. About Trinasolar (688599. SH) Founded in 1997, Trinasolar Co Ltd (stock symbol: Trinasolar; stock code: 688599) is engaged mainly in PV products, PV systems and smart energy. PV products include R&D, production and sales of PV modules. PV systems consist of power stations and system products. Smart energy comprises mainly PV power generation and operations and maintenance, smart solutions for energy storage, smart microgrid, and development and sales of multi-energy systems. We are committed to leading the way in smart PV and energy storage solutions and facilitating the transformation of new power systems for a net-zero future. On June 10, 2020, Trinasolar was listed on the Science and Technology Innovation Board (STAR Market) of the Shanghai Stock Exchange (SSE). It was the first PV and energy storage company to go public on the STAR Market providing PV products and systems, as well as smart energy. For more information, please visit For media inquiries please contact: Mariam Agag – PR Manager, Trinasolar MEA Email: Lojayne Mohsen – Senior Consultant, Fekra Communications Email:
