CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Dubai Regulator Signs Agreement With Oman

Dubai Regulator Signs Agreement With Oman

by Lorys Charalambous, Tax-News.com, Cyprus

30 October 2008


The Dubai Financial Services Authority (DFSA) on Thursday entered into a Memorandum of Understanding (MoU) with the Capital Market Authority (CMA) of the Sultanate of Oman.

The MoU was signed by Abdullah Saleh, Chairman of the DFSA and Yahya Bin Said Al Jabri, Executive President of the CMA, and coincided with Al Jabri's first visit to the Dubai International Financial Centre (DIFC).

The CMA was established on November 9, 1998 with a mission to create a fair, efficient, and transparent Capital Market in Oman. The role of the CMA is to achieve fair and sound trading, to protect investors as well as enhancing confidence in the market and attract investments through developing and improving systems and regulations, and surveillance over entities and institutions operating in that market.

The CMA and the DFSA are active members of the Africa and Middle East Regional Committee of the International Organisation of Securities Commissions (IOSCO) and both authorities acknowledge the importance of developing and applying common international standards to address current global difficulties.

In welcoming the CMA chief, Saleh said: “The signing of today’s MoU confirms a growing relationship between the DIFC and the Sultanate of Oman and reflects the importance of links between regulatory authorities in the region. This initiative and our meeting focus on common objectives to improve regulatory standards across all areas of financial services and to increase opportunities for information sharing and co-operation.

He added: "It also recognises that both regulators place reliance on the quality of regulatory standards administered in the other’s jurisdiction.”


To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »