Search SaudiArabiaPR.com

Home >> Local News and Government

Saudi Arabian Monetary Authority's first MoU in Riyadh signed with the DFSA

Saudi Arabian Monetary Authority's first MoU in Riyadh signed with the DFSA

Monday, May 4, 2020/ Editor -  

Share

Home >> Local News and Government

Riyadh, Saudi Arabia,  6 November 2019:   The Dubai Financial Services Authority (DFSA) and the Saudi Arabian Monetary Authority (SAMA) enhanced their relationship today when Mr Saeb Eigner, Chairman of the DFSA, met His Excellency Ahmed Al-Kholifey, Governor of SAMA, and signed a Memorandum of Understanding (MoU) to strengthen mutual cooperation in their supervision of banking and insurance.

 

The MoU will facilitate the exchange of information and oversight of institutions supervised by the respective authorities in the Kingdom of Saudi Arabia and the Dubai International Financial Centre (DIFC).

 

Under the MoU, both parties will be able to cooperate closely and strengthen their collaboration. 


Saeb Eigner, Chairman of the DFSA, said: “We are very pleased to be the first regulator to sign an MoU with the Saudi Arabian Monetary Authority in Riyadh. This MoU will enhance our cooperation with the Saudi Arabian Monetary Authority and help to promote transparent financial services business in our respective jurisdictions. It will also strengthen our relationship through mutual visits, and the formulation of effective strategies and action plans to improve the regulatory frameworks governing our respective financial markets, thus promoting a stable financial services sector in our region.”


Apart from collaboration on technical assistance, consultation and dispute resolution, the MoU also allows for secondments between the Authorities, which will forge closer, stronger links between SAMA and the DFSA. 


Previous in Local News and Government

Next in Local News and Government


Home >> Local News and Government Section

Latest Press Release

UAE Team Emirates-XRG take home five National Championship victories

Jeddah e-prix double-header becomes most-watched formula e weekend in history, d ...

In the Presence of H.E. Al-Jasser … Mawani Signs Privatization Contracts for Mu ...

Hibrid and Alibaba Cloud Sign MoU to Deliver Advanced Streaming and Comprehensiv ...

Get Ready for Fabulous Summer Looks with BADgal BANG! Power Blue Mascara!

Make the Most of the Summer with an Unforgettable Stay at The Hotel Galleria Jed ...

UK Clinical Rotations Enriches SGU's students Medical Career

Equivator Invests SAR 30 million in Related to Drive MENA's Loyalty and Rewards ...

Bigger Thrills and Better Rewards Await You This Dubai Summer Surprises at Merca ...

CASIO Middle East & Africa Marks Six Decades of Calculator Legacy

SRMG Labs triumphs at Cannes Lions with Gold and Silver for The Second Release, ...

HSA Group Appoints Mr. Dirhem Abdo Saeed as Chairman of the Board

EASA and IATA publish comprehensive plan to mitigate risks of GNSS interference

Cluster 2 signs an agreement to advance smart airport operations in Saudi Arabia

African Energy Week (AEW) 2025 to Host Dedicated Energy Finance Track

EGYPTAIR discloses order for an additional six Airbus A350 aircraft

Riyadh Air places firm order for 25 Airbus A350-1000 aircraft

As part of its commitment to social responsibility through 'Bupa Clinics' Bupa ...

essence launches Fondation Stick: A New Take on Makeup, Friendship, and Sharing ...

AviLease orders Airbus A350F freighters and A320neo Family aircraft