View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
  2. Industry news
September 13, 2017

Dubai and Malaysia regulators sign fintech cooperation agreement

The Dubai Financial Services Authority (DFSA) and Securities Commission Malaysia (SC) have inked an agreement to support fintech innovation in the two jurisdictions.

Under the agreement, the two parties will exchange information on fintech developments, refer innovative firms between their respective innovation functions, and offer regulatory guidance to the firms.

The authorities will also explore joint innovation projects on fintech, with focus on fintech developments in Islamic finance.

DFSA CEO Ian Johnston said: “Our FinTech regime is developed to enhance and improve access to finance and the efficiency of markets. We also want to encourage innovative financial services and solutions. By collaborating with the SC, we will further strengthen our FinTech proposition across traditional and Islamic finance markets.”

The latest agreement builds on an existing relationship between the two regulators, which joined forces in 2006 to support Islamic finance transactions between the two markets. Next year, the two parties inked a mutual recognition agreement for cross-border distribution and marketing of Islamic funds between the two markets.

Topics in this article: , ,
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


Thank you for subscribing to Private Banker International