The cooperation between regulators is paramount to creating a more stable financial system
The Dubai Financial Services Authority (DFSA) signed an MoU with the Astana Financial Services Authority (AFSA).
The two authorities agreed to work together for the continued development of their legal and regulatory regimes through information, personnel exchange and training. The MoU follows the close collaboration between the DIFC bodies and the Republic of Kazakhstan to establish the Astana International Financial Centre which has been modelled on the DIFC, reported WAM.
Waleed Saeed Al Awadhi, COO of DFSA, said the DFSA has 104 bilateral MoUs with regulators globally, and five multilateral MoUs.
Stephen Glynn, CEO of AFSA, said the DFSA lead the development of bespoke international financial centres in the Middle East and has become a model of sound regulatory practise, reported WAM.