A senior delegation from the Isle of Man Government has signed a Regulatory Memorandum of Understanding (MOU) with Dubai Financial Services Authority.
It is the first offshore centre to sign an MOU with the United Arab Emirates (UAE) Central bank in Abu Dhabi. In addition two further MOUs were signed with the Bahrain Monetary Agency. Under each agreement, the Middle East Agencies, the Financial Supervision Commission (FSC) and the Insurance Pensions Authority (IPA) will consult with each other on an on-going basis to enhance regulatory co-operation and to collaborate on international supervision between the regions. The MOUs also provide a framework for regulatory cooperation through the exchange of information and mutual cooperation i...
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