ADGM Partners With Bahrain Central Bank
by Lorys Charalambous, Lowtax.net, Cyprus
15 February, 2017
Abu Dhabi Global Market (ADGM), a relatively new low-tax financial center, and the Central Bank of Bahrain have agreed to cooperate on regulatory matters.
A new Memorandum of Understanding signed between the two is said to establish a strategic platform for ADGM and the Central Bank of Bahrain to share information and facilitate joint efforts to maintain the proper functioning of financial institutions and insurance and capital markets in each market.
Commenting on the signing of the MOU, Richard Teng, the CEO of ADGM's Financial Services Regulatory Authority, said the MoU underpins ADGM's commitment to upholding high regulatory standards and support cross-border activities of stakeholders by to collaborating with regional partners.
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