View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
  2. Company news
June 23, 2016updated 04 Apr 2017 1:25pm

Abu Dhabi, Turkey ink cross-border cooperation deal

The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has inked a memorandum of understanding (MoU) with the Banking Regulation and Supervision Agency of Turkey (BRSA) to co-operate and exchange supervisory and enforcement information.

By Verdict Staff

The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has inked a memorandum of understanding (MoU) with the Banking Regulation and Supervision Agency of Turkey (BRSA) to co-operate and exchange supervisory and enforcement information.

The MoU will also provide a framework for BRSA and FSRA to render mutual assistance, exchange regulatory information and co-operate in supervision of cross-border establishments.

Under the agreement, the two regulatory bodies will be able to share information of cross-border entities, provide technical assistance and facilitate knowledge sharing to bolster regulatory standards and practices in both jurisdictions.

ADGM-FSRA CEO Richard Teng said: "The partnership with the Turkish BRSA demonstrates FSRA’s commitment in establishing cooperative arrangements and cross-border collaboration with our international counterparts.

"We look forward to further strengthen our ties with regional authorities to maintain an efficient, responsive and well-regulated financial environment that address the needs of our stakeholders."

BRSA chairman Mehmet Ali Akben said: "We are confident that the Memorandum will contribute to the increasing cooperation between Financial Services Regulatory Authority of ADGM and the Banking Regulation and Supervision Agency of Turkey."

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Private Banker International