The Astana Financial Services Authority (AFSA) announced earlier this week that it signed statement of cooperation with the Adu Dhabi Global Market to enhance their bilateral relationship. According to the AFSA, the objective of the Statement of Cooperation is to enhance mutual understanding of the legislative, procedural and information technology frameworks for Registrar and company registration functions in the Astana International Financial Centre and the ADGM.
“The Statement establishes the conditions necessary to provide mutual assistance and facilitate the performance of the functions of each Authority, conduct mutual training and allows for secondment opportunities for the staff of each Authority. The parties will also be able to exchange information about the development of international standards impacting upon registries and trends in the development of registry services and operations.”
Speaking about the statement, AFSA CEO, Stephen Glynn, stated:
“The AFSA and ADGM enjoy strong bilateral relations and leverage on each other’s respective areas of expertise. The AFSA and the ADGM recently entered into a bilateral agreement to support each other and share information in the field of financial technology and this Statement of Cooperation enhances our mutual collaboration.”
Dhaher AL Muhairi, CEO of the Registration Authority of ADGM, added:
“One of ADGM’s major strengths is to create a mutual partnership with leading companies registries around the world in order to maintain and share best practices in international standards. This partnership presents a unique opportunity for our employees to develop their skills and share knowledge. We look forward to working closely with our partner to support the companies registries’ development in ADGM.”