International Cooperation & MoUs
To achieve its strategic objectives, ASMEC fosters and maintains strong relationships with other regulatory agencies across Dubai, the UAE, and globally. These collaborations extend to international organisations, financial regulators, and supervisory bodies, ensuring alignment with international best practices and promoting global financial stability.
In the context of non-public information, ASMEC pursues formal cooperation through the establishment of Memoranda of Understanding (MoUs) with both local and international authorities. These agreements enable effective coordination, the exchange of information, and the use of enforcement powers to achieve shared objectives in financial regulation.
Purpose of MoUs
MoUs formalise collaboration between regulatory authorities and are based on mutual understanding rather than legal compulsion. They provide a framework for:
- Information sharing and investigative cooperation.
- Supporting enforcement actions and supervisory assistance.
- Enhancing transparency and trust between jurisdictions.
The absence of an MoU does not prevent ASMEC from sharing information or providing assistance, as such authority is already granted under specific provisions of the Regulatory Law. Chapter 8 of the Regulatory Policy and Process Sourcebook elaborates further on these powers.
Bi-lateral MoUs
| # | Country / Region | Authority / Institution |
|---|---|---|
| 1 | Abu Dhabi | Financial Services Regulatory Authority of ADGM |
| 2 | Australia | Australian Prudential Regulation Authority |
| 3 | Australia | Australian Securities and Investments Commission |
| 4 | Bahrain | Central Bank of Bahrain |
| 5 | Bangladesh | Securities and Exchange Commission |
| 6 | Belgium | Banking, Finance & Insurance Commission of Belgium [+AIFMD] |
| 7 | Brunei | Brunei Darussalam Central Bank |
| 8 | Canada | Office of the Superintendent of Financial Institutions |
| 9 | Cayman Islands | Cayman Islands Monetary Authority |
| 10 | China | China Banking & Insurance Regulatory Commission |
| 11 | China | China Securities Regulatory Commission |
| 12 | Cyprus | Central Bank of Cyprus |
| 13 | Cyprus | Securities and Exchange Commission |
| 14 | Denmark | Financial Supervisory Authority (Finanstilsynet) |
| 15 | Dubai | Dubai Police General Head Quarters |
| 16 | Dubai | Dubai’s Public Prosecution |
| 17 | Dubai | Smart Dubai |
| 18 | Egypt | Central Bank of Egypt |
| 19 | Egypt | Egyptian Financial Supervisory Authority |
| 20 | Europe | European Securities and Markets Authority (re Credit Rating Agencies) |
| 21 | Europe | European Securities and Markets Authority (re Central Counterparts) |
| 22 | France | Banque de France |
| 23 | France | L’Autorite des Marches Financiers |
| 24 | Germany | Federal Financial Supervisory Authority of Germany (BAFIN) |
| 25 | Greece | Hellenic Capital Market Commission |
| 26 | Guernsey | Financial Services Commission |
| 27 | Hong Kong | Securities and Futures Commission |
| 28 | Hong Kong | Hong Kong Monetary Authority (on Sustainable Finance) |
Multi-lateral MoUs
- The International Organisation of Securities Commissions (IOSCO)
- The Boca Declaration
- International Association of Insurance Supervisors (IAIS)
- IOSCO Africa and Middle East Regional Committee (AMERC)
- The International Forum of Independent Audit Regulators (IFIAR)
For further details and the complete list of international agreements, please visit the ASMEC International Cooperation Section.
