(MENAFN- Kuwait News Agency (KUNA)) Kuwait's Capital Markets Authority (CMA) and UAE's Dubai Financial Services Authority on Thursday signed a MoU for enhancing bilateral cooperation.
The deal was signed by chairman of the CMA's Board of Commissioners Nayef Falah Al-Hajraf and the CEO of DFSA Ian Johnston.
Concluding such agreements with counterpart financial authorities, regional and international, is integral to the CMA's role, Al-Hajraf told KUNA.
Today's MoU provides for exchanging expertise and information with the DFSA, pointing to several Kuwaiti firms listed on the Dubai Financial Market, and other ones. This deal will help set an organization framework for such companies.
He referred to a previous MoU signed with the Abu Dhabi Securities and Commodities Authority last December during the meeting of the Kuwaiti-UAE Higher Committee.
The CMA is relatively a recent one, almost five years old, and it counts much on training and benefiting from others' expertise, he said.
According to Al-Hajraf, the MoU goes in line with the activities of committees at the Gulf Cooperation Council (GCC) Secretariat and meetings of the bloc's financial markets. This all serves efforts seeking integration of the GCC markets, he said.
Meanwhile, Al-Hajraf revealed that the Kuwaiti authority is posed to sign similar MoUs with counterparts in Qatar and Oman, in addition to a GCC multi-party one, yet to be completed by the bloc's Secretariat.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.