The Dubai Financial Services Authority (DFSA) signed a memorandum of understanding (MoU) with the Egyptian Financial Supervisory Authority (EFSA) to enhance sharing information and cooperation between the two authorities, DFSA said in a Tuesday statement.
The agreement was signed by DFSA’s chief executive Ian Johnston and chairman of EFSA Sherif Sami on Tuesday.
The first MoU the DFSA signed with another securities regulator in the Middle East outside the United Arab Emirates, was with the Capital Market Authority (CMA), the predecessor of EFSA, in 2006. “We are delighted that this supplementary arrangement, reflecting the broader jurisdiction and additional responsibilities of the CMA’s successor, the EFSA, reconfirms this link,” Johnson said.
Commenting on the signing, Sami said that the Egyptian authority was keen to sign this agreement due to the DFSA’s “growing role” and activity witnessed from companies, adding: “I look forward to closer cooperation between the two regulators.”
DFSA is the independent regulator of financial and ancillary services conducted in or from the Dubai International Financial Centre (DIFC), a purpose-built financial free-zone in Dubai, UAE.
