Search SaudiArabiaPR.com

Home >> Government, Legal & Humanity

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

Wednesday, November 6, 2019/ Editor -  

Share

Home >> Government, Legal & Humanity

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 Government, Legal & Humanity

Next in Government, Legal & Humanity


Home >> Government, Legal & Humanity Section

Latest Press Release

Saudi Ambassador to Yemen Mohammed Al Jabir Meets MSF Delegation

Gulf Electrical Power Laboratories is now operational to optimize power assets i ...

Celebrate your most cheerful night at M Hotel Makkah by Millennium

Saudi Telecom Company selects IFS to improve customer experience

Mouawad and the Miss Universe Organization Unveil the Miss Universe Power of Uni ...

Amaala Announces Incorporation

Riyadh Showcases the Best of Mena's Gaming Talent as Riot Games Delivers Succe ...

Mako and the Crystal Method Perform at Nexus Festival in Riyadh

Gamers Put Their Skills to the Test on First Day of Nexus Festival in Riyadh

Saudi Pharmaceutical Sector in Spotlight at Pharma Congress in Riyadh

Chloé's Iconic “Carlina” Sunglasses In a Precious New Interpretation

3rd Saudi Maritime Congress announced for March 2020

Saudi Arabia Assumes 2020 G20 Presidency

HP and Saudi Authorities Disrupt Two Local Criminal Operations

Etihad Airways Becomes the First Foreign Airline to Operate Its Flights to Jedda ...

paco rabanne I Lady MILLION LUCKY

KSA Pharma Market Value to Reach SR 40.1bn by 2023

Riyadh on Track to Become Sustainable City – International Experts

79 per cent of Consumers in the UAE and KSA have Unfollowed Social Media Influen ...

96% of Saudi Arabia Businesses Prioritize Customer Experience in 2020