Mubasher: The Egyptian Financial Supervisory Authority (EFSA) has signed a Memorandum of Understanding (MoU) with the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM), a press release revealed on Wednesday.
This agreement aims at enhancing regulatory cooperation and cross-border activities, establishing a framework for both Authorities to provide mutual assistance, exchange regulatory information and co-operate in the fields of supervision and enforcement matters to uphold high standards in both jurisdictions.
The MoU further allows both authorities to explore joint initiatives that enable effective regulation and robust supervision of operators in cross-border operations.
"This agreement fosters greater regulatory collaboration and supports continuous development and innovation of our respective financial sectors. We look forward to working closely with EFSA to maintain an efficient, responsive and well-regulated financial environment for our stakeholders and investors,” said Richard Teng, Chief Executive Officer, FSRA of ADGM
ADGM will continue its engagements and efforts to develop mutually-beneficial collaborations and partnerships with authorities and stakeholders locally and globally.
