In recent time, financial consumer protection has become an increasing priority for financial service regulators. AFSA aims to protect consumers from abusive practices and enabling them to make well-informed decisions regarding the use of financial products and services.
Our goal is to is to protect consumers, ensure the industry remains stable, enhance the integrity of the AIFC financial system and promote healthy competition between financial services providers.
We achieve this goal through meeting the following key objectives:
- ensuring that financial services firms operating in the AIFC meet the standards of conduct expected of such firms, particularly regarding the treatment of their clients, but also in their dealings with counterparties and other market participants,
- ensuring that the behavior of firms operating in the AIFC contributes to fostering and maintaining the integrity of financial markets in the AIFC.
We carry on continuing oversight of firms and of individuals controlling firms to reduce actual and potential harm to consumers and market.
We are responsible for identifying potential risks and acting before they cause a serious harm. By doing so, we aim to achieve a well-functioning market that will work for consumers.