ABU DHABI, Central Bank of the UAE, CBUAE, and Astana Financial Services Authority, AFSA, have entered into a Memorandum of Understanding to enhance cooperation between the two sides.

The MoU - which was signed in Abu Dhabi during the official visit of President of Kazakhstan Kassym-Jomart Tokayev to the UAE - establishes framework for bilateral cooperation and coordination in the regulatory and supervisory matters for mutual benefits and facilitating business activities between the parties.

Welcoming the signing of the MoU, Mubarak Rashed Al Mansoori, Governor of the Central Bank of the UAE, said, "The CBUAE is pleased to establish this partnership with the AFSA and further reinforces our commitment to cooperating and collaborating with like-minded institutions."

The MoU promotes cooperation in exchange of best practices and information surrounding regulatory and supervisory functions, as well as holding mutual consultations and discussions of laws that are applicable in both jurisdictions which contributes to creating a sound financial system in the UAE and Kazakhstan.

Source: Emirates News Agency