Abu Dhabi Global Market, the international financial centre, has signed another agreement to enhance collaboration with global financial regulators.

Abu Dhabi Global Market has signed a memorandum of understanding with the Malta Financial Services Authority to foster growth in both financial markets through greater regulatory cooperation and information sharing.  

The MoU also includes a framework for the exchange of views and expertise in the fields of banking, insurance, funds and capital markets regulation of each jurisdiction.

“The main objective of the memorandum of understanding is to create a formal framework for regulatory collaboration between the two authorities,” said Joseph Bannister, chairman of the MFSA.

“Such collaboration should prove beneficial in protecting investors, promoting the integrity of regulated markets and bolstering the growth of financial services in both markets,” Bannister said. “This will be achieved by providing clear means for co-operation between the two authorities including channels of communication, increased mutual understanding, exchange of regulatory experience and technical information and investigative assistance.”

Malta and Abu Dhabi have had “great friendship, robust trade and investment initiatives” for many years, added Richard Teng, chief executive of the Financial Services Regulatory Authority of ADGM.

Last month, ADGM signed an MoU with Mauritius (see here).