The international financial centre located on Al Maryah Island has added to its network of agreements with regulators across the world.

Abu Dhabi Global Market has signed an agreement with the Mauritius Financial Services Commission to facilitate regulatory cooperation and the exchange of information. 

The memorandum of understanding was signed in December last year by PK Kuriachen, chief executive of MFSC, and Richard Teng, CEO of the Financial Services Regulatory Authority of ADGM.

The agreement provides a framework for FSRA and MFSC to offer mutual assistance, exchange regulatory information and cooperate on the supervision of cross-border institutions, ADGM said in a statement.

“This MoU represents our mutual endeavour to bridge the gap further with the Middle East countries, to formalise our ally relationship with the Abu Dhabi jurisdiction and to work together towards the development of the respective markets in a business friendly and healthy environment,” said Kuriachen.

Teng said: “We look forward to working closely with the Financial Services Commission of Mauritius on relevant initiatives to strengthen relationship further, share regulatory experience and insights and bolster the growth of financial services in both markets.”