Bloomberg/Sima Diab

DFSA signs an MoU with the Central Bank of Egypt

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The collaboration includes, but is not limited to combatting financial crime, conducting consolidated supervision of common firms and discussing crisis management.

Wednesday 14, August 2019 BY KUDAKWASHE MUZORIWA

The Dubai Financial Services Authority (DFSA) has signed an MoU with the Central Bank of Egypt (CBE) to enhance cooperation between the two institutions and facilitate the performance of their respective supervisory tasks as well as promote the safety and soundness of banks in their respective jurisdictions.

Bryan Stirewalt, the Chief Executive of the DFSA, said that the MoU will enhance cooperation by promoting stable and transparent financial services in the two institutions’ respective jurisdictions as well as contribute to strengthening investor confidence.

The Dubai financial regulator stated that this agreement is the seventh MoU signed with a regional central bank, in March 2019 the DFSA signed an MoU with Bank Al-Maghrib, in addition to MoUs with the Central Bank of Bahrain and the Central Bank of Oman in 2018 as well as MoUs signed with the Central Bank of the UAE in 2009, Banque Du Liban in 2013 and the Central Bank of Jordan in 2007.

 

TAGS : DFSA, CBE, Bank Al-Maghrib, Central Bank of Bahrain, Central Bank of Oman, Central Bank of the UAE, Banque Du Liban, Central Bank of Jordan

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