The collaboration facilitates the exchange of information and co-operation in monitoring & control compliance within ADGM's Free Zone.
The Authority of Abu Dhabi Global Market (ADGM) has announced that it has signed an MoU with the Abu Dhabi Monitoring and Control Centre (MCC).
In a statement, ADGM said the agreement will utilise the criteria and standards of MCC for monitoring and control compliance within the jurisdiction of ADGM, it will also enable both parties to collectively organise monitoring and controlling procedures to ensure that public and private establishments within the jurisdiction with the standards and criteria set by MCC.
The MoU provides a platform for mutual exchange of information on common tasks and duties, compliance reports and confirmation and verification of information in the event of non-compliance.
Moreover, it also seeks to strengthen mutual collaboration and assistance through systematic communication on all information related to each parties’ obligations, joint awareness campaigns targeted towards both public and private entities within ADGM and agreed initiatives to improve professional and technical skills of both parties' staff.
Dhaher Bin Dhaher Al Mheiri, CEO of The Registration Authority of ADGM, said the joint collaboration will pool together expertise in the field to meet mutual goals, resulting in increased safety and security measures aiming to instil greater business and investor confidence in ADGM and Abu Dhabi as a whole.