«Dubai Financial Services» signs a memorandum of understanding with «Central» Mauritius
The Dubai Financial Services Authority has announced that it has signed a Memorandum of Understanding with the Central Bank of Mauritius (Bank of Mauritius), with the aim of cooperating and providing assistance on regulatory issues, and facilitating the exchange of information and knowledge between the two parties in the field of financial innovations.
The MoU focuses on technologies related to financial services, the process of regulation and supervision, in order to facilitate the delivery of regulatory requirements more efficiently and effectively.
According to the memorandum, the two entities will promote open dialogue on many matters, including the oversight of operational and technology-related risks;
Anti-money laundering, terrorism financing and proliferation, and cybersecurity.
The agreement also sets a framework for enhancing capacity building in the field of financial services of common interest to both parties.
Fadel Al-Ali, Chairman of the Dubai Financial Services Authority, said that advanced technologies are a very important component of the global financial system, as the world is witnessing a remarkable increase in the adoption of these technologies.
He added: “As a global regulator, it has become imperative for us to exchange experiences and skills to drive the development of our economies, and to protect and enhance the integrity of our financial systems.”
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