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Qatar Financial Centre, ADGM, DIFC announce cooperation on cross-border data flow
['Staff Writer']
Zawya.com - All Regional News
Doha, Qatar: Qatar Financial Center (QFC) has announced it reached reciprocal data protection adequacy recognition both the Abu Dhabi Global Market (ADGM) and the Dubai International Financial Center (DIFC), noting that this regulatory milestone reinforces the three financial centres’ commitment to establishing a robust data protection regime and regional regulatory cooperation.
Inclusion is granted only to jurisdictions that demonstrate best-in-class data protection standards and a consistently high level of protection for personal and sensitive data.
Commenting on the announcement, Data Protection Commissioner at QFC Daniel Patterson said "By mutually recognising our data protection frameworks as adequate, the QFC, DIFC and ADGM have made international data transfers simpler across the region.
It strengthens trust, supports digital trade and reinforces the Gulf as a secure, innovation-driven platform for growth and investment."
The initiative advances regional harmonisation and underscores how cooperation between leading financial centres can translate into practical outcomes for the market.