AFSA has developed a legal and regulatory framework that reflects global standards by implementing a regime that complies with international best practices. The framework will facilitate business but ensure the safety and soundness of the financial system of the AIFC.
AFSA will tailor the regime to ensure it is synergistic with domestic and regional regimes. Accordingly, AFSA will adopt an approach which is balanced, scalable and responsive to new initiatives, challenges, risks and regulatory developments.
AFSA's policy regime is implemented through its rule-making powers. AFSA also has powers to waive or modify its rules either on request or on its own initiative. AFSA will use this power if a rule is unduly burdensome or does not achieve the purpose for which the rule was made provided the waiver or modification does not adversely affect the advancement of its regulatory objectives.