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Abu Dhabi, UAESunday 23 September 2018

ADGM bolsters data protection regime with GPEN membership

ADGM is the first member from the GCC, providing the opportunity to build international relationships in the data protection field

Abu Dhabi Global Market and Hong Kong Monetary Authority will jointly promote financial technology prospects and opportunities. Mona Al Marzooqi / The National
Abu Dhabi Global Market and Hong Kong Monetary Authority will jointly promote financial technology prospects and opportunities. Mona Al Marzooqi / The National

Abu Dhabi Global Market (ADGM), the international financial centre in Abu Dhabi, has been granted membership of the Global Privacy Enforcement Network (GPEN).

The GPEN membership will be headed by ADGM’s Registration Authority (RA), the data protection regulator of ADGM. Established in 2010, GPEN is an international network of data protection authorities, comprised of over 60 members from around 50 different countries and regions with the purpose of facilitating cross border enforcement of privacy protection laws and strengthening personal privacy and data protection in a global context.

“We are honoured to be granted membership of GPEN. Data protection and privacy are fundamental to a robust and transparent international financial centre," said Ahmed Ali Sayegh, chairman of ADGM.

"The Registration Authority has enforced a data protection regime that is in line with international best practices and is proactive in implementing advancements in the field. Initiatives such as the membership seek to instil greater confidence in our stakeholders and position ADGM as a leader in the international community of data protection and privacy.”

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ADGM is the first member from the GCC, providing the opportunity to build international relationships in the data protection field. The GPEN membership will also provide a platform to share best practice and facilitate cooperation on privacy law enforcement.

Membership of GPEN will strengthen ADGM’s ability to raise awareness of the importance of privacy and data protection. GPEN membership also raises ADGM’s profile as a jurisdiction in the region that is committed to privacy and data protection. It is also particularly timely, given current international developments in data protection, such as the European Union’s General Data Protection Regulation (GDPR), which comes into force on May, 25 2018.

Implementation of international best practices in data protection and membership of bodies such as GPEN play an integral role as key distinctions between ADGM and other international finance centres. GPEN membership is one of many ongoing initiatives and activities to bolster data privacy and protection at ADGM.

H.E. Ahmed Ali Sayegh; Chairman of ADGM said, “We are honoured to be granted membership of GPEN. Data protection and privacy are fundamental to a robust and transparent international financial centre. The Registration Authority has enforced a data protection regime that is in line with international best practices and is proactive in implementing advancements in the field. Initiatives such as the membership seek to instil greater confidence in our stakeholders and position ADGM as a leader in the international community of data protection and privacy.”

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