Abu Dhabi Global Market (ADGM), the international financial centre in Abu Dhabi, has signed a memorandum of understanding (MoU) with FinanceMalta (FM), the organisation responsible for the development of the country’s financial centre, to enable further collaboration on joint initiatives and efforts to bolster the growth of the financial markets in both financial markets.
The deal creates a strategic platform for the two organizations to share expertise and pertinent information on banking, financial services and products, securities legislation and regulatory practice in each market.
As part of the agreement, ADGM and FM will explore mutually beneficial projects and activities that further develop human capital capabilities and foster greater growth in both financial markets.
The deal was signed in Abu Dhabi by Kenneth Farrugia, chairman of FinanceMalta and Richard Teng, CEO of the Financial Services Regulatory Authority (FSRA) of ADGM.
Teng said: “By harnessing our expertise and experience, financial institutions and companies can further expand their global footprints through ADGM’s internationally recognised platform. I look forward to the two teams working closely and playing our part in developing the financial services sectors in our respective markets, and supporting our businesses and stakeholders in achieving their growth plans.”
Farrugia added: “We are looking forward to working closely with ADGM to share our respective expertise in international financial services business with the end objective to foster closer collaboration between the financial services operators in our respective jurisdictions, and facilitate contacts for financial market stakeholders and financial delegations interested in the business potential of ADGM.”