Dubai, Doha business regulators sign MoU

24 Feb 2010

(MENAFN) The Qatar Financial Center Regulatory Authority (QFCRA) and Dubai Financial Services Authority (DFSA) agreed to share supervisory information regarding financial firms operating in both the centers, Khaleej Times reported.

A memorandum of understanding (MoU) was signed by QFCRA chairman and CEO Phillip Thorpe and DFSA chief executive Paul Koster at the GCC Regulators’ Summit in Doha.

As markets and regulatory jurisdictions are brought closer together in today’s evermore complex financial environment, it is increasingly important that regulators share information and working practices as a means of bolstering their effectiveness, said Thorpe.

This is especially important in neighboring jurisdictions where cross-border activities are more likely to occur and where regulators are more likely to need to communicate, he added.

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