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ADGM Signs MoU With FinanceMalta

by Lorys Charalambous, Lowtax.net, Cyprus
02 December, 2016

Abu Dhabi Global Market, the low-tax financial center, and FinanceMalta, the Maltese financial services promotional agency, have agreed to cooperate on joint initiatives and efforts to bolster growth in both jurisdictions.

A Memorandum of Understanding (MoU) signed by ADGM and FinanceMalta will establish a "strategic platform" to share expertise and information on banking, financial services and products, securities legislation, and regulatory practice in each market. As part of the agreement, ADGM and FinanceMalta will explore mutually beneficial projects and activities that further develop human capital capabilities and foster greater growth in both financial markets, they said.

Richard Teng, Chief Executive Officer of the Financial Services Regulatory Authority of ADGM, said: "This MoU marks an important development in our ongoing engagement and collaboration with FinanceMalta. By harnessing our expertise and experience, financial institutions and companies can further expand their global footprints through ADGM's internationally recognized platform."

Kenneth Farrugia, Chairman of FinanceMalta, said: "This MoU will be an important catalyst in our thrust to strengthen the visibility and relevance of Malta as an EU-based financial services domicile in the Gulf, and we are extremely delighted with this development."

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