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17 November 2019
REGULATION

DFSA extends partnership with Chinese regulatory body

The initial MoU, signed on 24 September 2007, facilitated co-operation and information sharing between banking supervisors.

BLOOMBERG/ASPER JUINEN


The Dubai Financial Services Authority (DFSA) has signed an extension to its MoU with the China Banking and Insurance Regulatory Commission (CBIRC).  

The DFSA stated that the extended MoU provides a platform for both entities to share supervisory information as well as enhance co-operation in the field of banking and insurance regulation in order to ensure prudent operations of cross-border insurance organisations of mutual interest. 

Bryan Stirewalt, the Chief Executive of the DFSA, said, “The Chinese banks operating in the DIFC constitute a significant presence in the Centre’s financial community, as such, the relationship between the CBIRC and the DFSA is critically important.”


RELATED STORIES: CHINA BANKING AND INSURANCE REGULATORY COMMISSION DUBAI FINANCIAL SERVICES AUTHORITY


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