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Dubai, Jordan Regulators Deepen Cooperation

by Lorys Charalambous, Lowtax.net, Cyprus
05 October, 2016

Dubai and Jordan's financial services regulators have agreed to deepen regulatory cooperation with the recent signing of a memorandum of understanding (MoU).

The MoU was signed in Dubai by Ian Johnston, Chief Executive of the Dubai Financial Services Authority (DFSA), and Mazen Wathaifi, Commissioner of the Jordan Securities Commission.

Commenting on the signing, Johnston said: "While the DFSA remains committed to international best practice and the work of the standard-setters, its recent focus has been on our region. In 2006 and 2007 the DFSA signed co-operative arrangements with the Insurance Commissioner and the Central Bank of Jordan and I am delighted to be signing this MoU with Commissioner Wathaifi today. The Jordan Securities Commission has long been an active participant in the International Organisation of Securities Commissions (IOSCO) and, like the DFSA, was an early signatory of the IOSCO Multilateral MoU..."

"The DFSA has always attached great importance to its ability to assist, and to receive assistance from its regulatory counterparts as financial activity increasingly crosses borders and calls for greater collaboration and enhanced responsiveness. As we sign our 98th bilateral MoU, we, with our Jordanian colleagues, confirm that commitment."

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