The Jersey Financial Services Commission and the Qatar Central Bank (QCB) have signed a Memorandum of Understanding to establish a formal framework for mutual assistance and the exchange of information.
The MoU follows a recent meeting in Qatar between the Director General of the Commission, David Carse, and the Governor of the QCB.
The agreement aims to facilitate the enforcement of, and compliance with, the laws of their respective jurisdictions in a bid to help protect investors and depositors and to promote the integrity of financial services markets in the two jurisdictions.
The MoU commits both regulators to providing help within the limits of each jurisdiction’s laws and establishes rules for the use of information exchanged.
Mr Carse described the agreement as "another significant step" in its strategy to establish a network of MoUs with overseas regulators.
"It is particularly important to be able to sign such agreements with jurisdictions such as Qatar that are of growing strategic importance to Jersey and where there are links with each other’s financial systems that create the need for supervisory cooperation," he observed.
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