Dubai Financial Services Authority signs MoU with Central Bank of Mauritius
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Dubai Financial Services Authority signs MoU with Central Bank of Mauritius

Dubai Financial Services Authority signs MoU with Central Bank of Mauritius

The agreement will facilitate knowledge exchange on technologically enabled financial innovation

Dubai Financial Services Authority

The Dubai Financial Services Authority (DFSA) has signed a Memorandum of Understanding (MoU) with the Central Bank of the Republic of Mauritius (Bank of Mauritius), to cooperate on the performance of their respective regulatory functions.

The agreement, which will also help facilitate knowledge exchange on technologically enabled financial innovation, emphasises on technologies pertinent to financial services, regulation and supervision, to facilitate a more efficient delivery of regulatory requirements.

Additionally, the two authorities will foster open dialogue on operational and technology risk supervision, anti-money laundering and combating the financing of terrorism and proliferation, and cybersecurity, a statement said.

The agreement between the two authorities establishes a framework for capacity building in financial services in areas of common interest to both authorities.

Fadel Al Ali, chairman of the DFSA said: “Advanced technologies are an important and growing component of the global financial ecosystem. As a global regulator it is imperative that we are share our experiences and expertise to further advance the development of our economies and safeguard the health of our financial systems.”

DFSA is an independent regulator of financial services conducted in and from the Dubai International Financial Centre (DIFC). Its regulatory mandate covers asset management, banking and credit services, securities, collective investment funds, custody and trust services, commodities futures trading, Islamic finance, insurance, crowdfunding platforms, money services, an international equities exchange and an international commodities derivatives exchange.

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