Dubai Financial Services Authority (DFSA) has inked a memorandum of understanding (MoU) with Capital Markets Authority of Lebanon to strengthen supervisory cooperation between the two markets.
Under the agreement, the two regulators will exchange information on supervisory issues.
The agreement will also facilitate the foray of financial institutions to foray into each other’s market.
The recent agreement extends the existing relationship between the two markets. In 2013, DFSA signed a pact with the central bank of Lebanon for information sharing.
The Dubai regulator recently also signed cooperation deals with Securities Commission Malaysia (SC), Securities and Futures Commission (SFC) of Hong Kong, and European Securities and Markets Authority (ESMA).
DFSA CEO Ian Johnston said: “Building strong frameworks of cooperation with our regional peers have always been a strategic objective for us. We have MoUs in place throughout the GCC as well as in Egypt, Jordan and the Banque du Liban (BDL) in Lebanon.
“Today’s MoU affirms the success of our relationship with the Lebanese authorities and recognizes the joint oversight of brokerage firms, investment banks and other non-banking financial institutions in the two jurisdictions.”