Abu Dhabi Global Market (ADGM), the international financial
centre in Abu Dhabi, and FinanceMalta (FM), the organisation
responsible for the development of Malta as a financial centre,
signed a Memorandum of Understanding (MoU) to enable further
collaboration on joint initiatives and efforts to bolster the
growth of the financial markets in both Abu Dhabi and Malta. This
agreement was signed in Abu Dhabi by Mr. Kenneth Farrugia, Chairman
of FinanceMalta and Mr. Richard Teng, Chief Executive Officer of
the Financial Services Regulatory Authority (FSRA) of ADGM. H.E. Dr
Emmanuel Mallia, Minister for Competitiveness and Digital, Maritime
and Services Economy of Malta was also present to witness the
The MoU establishes a strategic platform for ADGM and FM to
share expertise and pertinent information on banking, financial
services and products, securities legislation and regulatory
practice in each market. As part of the agreement, ADGM and FM will
explore mutually beneficial projects and activities that further
develop human capital capabilities and foster greater growth in
both financial markets.
Mr. Richard Teng, Chief Executive Officer of the Financial
Services Regulatory Authority (FSRA) of ADGM said: "This MoU
marks an important development in our on-going engagement and
collaboration with FinanceMalta. By harnessing our expertise and
experience, financial institutions and companies can further expand
their global footprints through ADGM's internationally
recognised platform. I look forward to the two teams working
closely and playing our part in developing the financial services
sectors in our respective markets, and supporting our businesses
and stakeholders in achieving their growth plans."
Mr. Kenneth Farrugia, Chairman of Finance Malta said: "This
MoU marks an important milestone in further strengthening our
on-going collaboration with Abu Dhabi Global Market. This MoU will
be an important catalyst in our thrust to strengthen the visibility
and relevance of Malta as an EU based financial services domicile
in the Gulf, and we are extremely delighted with this development.
We are looking forward to working closely with ADGM to share our
respective expertise in international financial services business
with the end objective to foster closer collaboration between the
financial services operators in our respective jurisdictions, and
facilitate contacts for financial market stakeholders and financial
delegations interested in the business potential of ADGM."
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