The Qatar Financial Centre Regulatory Authority (QFCRA) has entered into a memorandum of understanding (MoU) with the Astana Financial Services Authority (ASFA), aiming at greater co-operation and facilitation of supervisory information sharing between the two bodies.
The signing ceremony was held on the side lines of the official opening of the Astana International Financial Centre (AIFC). The MoU was signed by Michael G Ryan, chief executive of the QFCRA and Stephen Glynn, chief executive of the ASFA.
The QFCRA and the AIFC have established a strong relationship, with a MoU signed between the two parties in August 2016, followed by extensive information sharing on Islamic banking and collaboration on best practice regulatory standards for financial centres. The QFCRA had also entered into a MoU with the National Bank of Kazakhstan, in October 2015.
“The QFCRA has established a close relationship with Kazakhstan and the AIFC and we are pleased to be extending this cooperative relationship to the ASFA,” Ryan said.
Glynn said this memorandum would deepen co-operation between the AFSA and QFCRA on issues of common interest, to strengthen exchange of information and supervision of financial institutions and enhance fair and safe environment within both jurisdictions.
QFCRA and AFSA officials after signing the pact.
