BSEC signs MoU with Dubai Financial Services Authority

TBS report

October 29, 2022, 6:40 PM

Last modification: October 29, 2022, 6:44 p.m.

Bangladesh Securities and Exchange Commission (BSEC) has signed a Memorandum of Understanding (MoU) with Dubai Financial Services Authority (DFSA) to further enhance mutual cooperation.

Chairman of the Bangladesh Securities and Exchange Commission (BSEC), Professor Shibli Rubayat-Ul-Islam, and Ian Johnston, Managing Director of the DFSA, signed the MoU on Friday in Dubai, according to a press release.

The agreement will allow the exchange of information between the two authorities and provide a framework to facilitate cross-border collaboration on supervisory and enforcement actions.

The DFSA and BSEC will enable the sharing of knowledge on best practices in regulation, supervision and licensing in the financial markets.

BSEC Chairman, Professor Shibli Rubayat-Ul-Islam said, “BSEC and Dubai DFSA signed the agreement after 50 years of friendship and independence. This agreement will advance the capital markets of our growing and dynamic countries.

Ian Johnston, Chief Executive of the DFSA, said: “Strengthened oversight and regulatory cooperation between the DFSA and the BSEC will result in greater market accessibility, ease of doing business as well as enhanced investor confidence in both jurisdictions”.

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