Dubai’s financial regulator is planning the biggest update to the Dubai International Financial Centre (DIFC) investment fund rules in more than a decade.

The Dubai Financial Services Authority (DFSA) has launched a public consultation on a wide-ranging package of reforms designed to modernise the DIFC’s investment fund framework, simplify regulations for fund managers and strengthen investor protection.

Here’s what you need to know.

Why is the DFSA changing the rules?

The DFSA says the investment fund industry has evolved significantly since the current framework was introduced in 2006.

The proposed reforms aim to:

• Modernise regulations to reflect today’s investment market.
• Reduce unnecessary compliance requirements.
• Make it easier for fund managers to operate.
• Maintain strong investor protection.
• Align DIFC regulations with international best practices.

What are the proposed changes?

The consultation includes several key proposals:

More flexible rules for private investment funds

The DFSA plans to replace rigid classifications for specialist private funds with a more flexible framework that can better accommodate modern investment strategies.

Simpler licensing for fund managers

Investment managers may no longer need separate licences for certain activities, such as arranging investments or dealing on behalf of clients, as these would be covered under an existing asset management licence.

Updated rules for master-feeder funds

The regulator also wants to modernise regulations governing “master-feeder” fund structures to reflect current market practices better.

Removal of the external fund manager regime

The DFSA proposes removing the external fund manager framework as more firms are now seeking direct authorisation from the regulator.

More investment opportunities for employees

Employees could be given greater flexibility to invest in private funds managed by their own employers, either directly or through dedicated investment vehicles.

Technical improvements

The consultation also proposes several technical amendments to improve clarity and consistency within the Collective Investment Law.

Could tokenised investment funds become a reality?

The consultation also seeks industry feedback on regulating tokenised investment funds.

Tokenisation uses blockchain technology to represent ownership units digitally, potentially making investment funds more efficient and accessible.

At this stage, the DFSA is only gathering feedback and has not proposed formal regulations.

Will retail investors get access to more investment opportunities?

Another topic under discussion is the possible introduction of a long-term investment fund regime.

If developed in the future, it could allow retail investors to access certain long-term assets—such as infrastructure projects or private market investments- that are currently limited to professional investors.

No regulatory changes have been proposed yet; the regulator is first seeking industry views.

Who can provide feedback?

The consultation is open until September 7, 2026.

The DFSA is inviting comments from:

• Fund managers
• Asset managers
• Fund administrators
• Legal advisers
• Auditors
• Compliance professionals
• Other participants in the DIFC investment funds industry

The proposals form part of Dubai’s wider efforts to strengthen its position as a leading regional hub for wealth and asset management while ensuring regulations remain modern, proportionate and investor-focused.

Visitors to some of Yas Island’s most popular destinations will soon experience a faster, cashless parking system.

Starting Monday, Yas Marina, Yas Bay Waterfront, and West Yas Plaza switched to a fully digital, barrier-free parking system that uses automatic number plate recognition (ANPR) technology to manage entry, exit and payments.

Here’s everything you need to know.

How does the new parking system work?

The new smart parking system, introduced in partnership with PARKONIC, uses cameras to automatically scan vehicle licence plates when drivers enter and leave participating parking areas.

There are:

• No paper tickets.
• No parking barriers.
• No payment machines.
• No need to stop when exiting.

Parking charges are calculated automatically based on the time your vehicle remains parked.

How much does parking cost?

Yas Bay Waterfront

• Dh20 for the first hour.
• Dh10 for each additional hour.

Visitors can also receive:

• Up to 3 hours free when dining at participating restaurants.
• Up to 6 hours free for gym or beach visitors, subject to validation.

Yas Marina

Parking rates are identical to Yas Bay Waterfront:

• Dh20 for the first hour.
• Dh10 for every additional hour.

Validated visitors can enjoy:

• Up to 3 hours free at participating restaurants.
• Up to 6 hours free for gym users.

West Yas Plaza

• First hour free.
• Dh10 for every additional hour after that.

How do you pay?

If your vehicle is linked to a Salik account, parking fees will be automatically deducted from your Salik wallet unless you’ve selected another payment method.

Drivers without a Salik account can pay by:

• SMS
• The official PARKONIC mobile app

Is parking charged every day?

Yes.

Unlike public parking systems operated by Dubai’s RTA or Abu Dhabi’s Mawafiq, PARKONIC-managed parking operates:

• 24 hours a day
• 7 days a week
• Including weekends and public holidays

Why is Yas Island introducing digital parking?

The new system is designed to:

• Reduce waiting times.
• Eliminate queues at payment machines.
• Offer a completely contactless parking experience.
• Improve traffic flow at some of Yas Island’s busiest destinations.

With automatic licence plate recognition and seamless digital payments, visitors can spend less time parking and more time enjoying Yas Island’s attractions.

Dubai’s Roads and Transport Authority (RTA) is giving the nol card its biggest upgrade since its launch in 2009, transforming it from a plastic travel card into a fully digital payment platform.

The new system is expected to be fully rolled out by the end of the first quarter of 2027. 

“The nol system upgrade project represents a strategic step within the comprehensive digital transformation journey pursued by the Roads and Transport Authority. It also constitutes a strategic investment in the future of digital services,” said  Al Tayer, Director General and Chairman of the Board of Directors of RTA.

Here’s everything you need to know.

Why is the nol card being upgraded?

The RTA is replacing the current card-based ticketing system with an Account-Based Ticketing (ABT) platform.

Unlike the existing system, which stores travel information on the physical card, the new technology stores customer information securely in a digital account. This allows passengers to manage their cards, payments and travel history online while supporting faster and more flexible payment options.

The upgrade is part of Dubai’s wider digital transformation strategy and aligns with global advances in digital payments and financial technology.

What are the new features?

The upgraded nol system will offer several new services, including:

• Digital customer accounts linked to nol cards.
• The ability to link multiple cards, including family members’ cards, under one account.
• Automatic balance top-ups from linked bank accounts.
• Online balance management.
• Access to transaction history.
• The ability to block lost or stolen cards remotely.

How will the rollout happen?

The project will be introduced in three phases.

Phase 1: QR code ticketing

Passengers will be able to buy and validate tickets using QR codes through digital platforms and mobile devices.

Phase 2: New-generation nol cards

A new version of the nol card will be launched, digitally linked to individual customer accounts for easier management and greater flexibility.

Phase 3: Bank cards and digital wallets

Passengers will be able to pay directly using:

• Bank cards
• Digital wallets
• Other contactless payment methods

This will reduce the need to carry a physical nol card while making public transport payments quicker and more convenient.

Will the nol card be used outside public transport?

Yes. Once the project is completed, the upgraded nol card will function more like a bank card.

Customers will be able to use it not only across Dubai’s public transport network but also to make payments at retail stores and through digital payment channels across the UAE.

When will the upgrade be completed?

According to the RTA, the project is 72% complete, with all three phases scheduled for completion by the end of the first quarter of 2027.

Simplified payment system?

The new nol system is expected to:

• Simplify fare payments.
• Improve the passenger experience.
• Support cashless and contactless payments.
• Offer better account management.
• Integrate multiple transport services into one payment ecosystem.
• Expand the use of nol beyond transport into everyday retail payments.

The upgrade marks one of the biggest changes to Dubai’s public transport payment system since the nol card was first introduced more than 15 years ago.