Egypt to guarantee funding for national carrier Egyptair    Should we worry about the Afghan deal?    Lebanese prime minister resigns    Why create new viruses?    The colours of the tabla    Nile blessings in disguise    Fighting for a seat    Why is Nasser still popular?    Promoting ecotourism    Land use and environmental impacts    The facts about Mostorod    Edward Said    Editorial: Time to rebuild    Edward Said: A legacy for today    Crown prince becomes oil-rich Kuwait's new ruling emir    Tennis: Egypt's Mayar Sherif exits French Open knowing she belongs at Slams    Mali call up Doucoure and Adama Traore for friendly internationals    Liverpool coach Klopp bristles at Keane's 'sloppy' criticism after Arsenal win    Egyptian insurance companies' premiums 9.6% up in five months    Egypt's President Sisi names new head of anti-corruption watchdog    Egypt's c.bank offers 18 bln pounds T-bills on Sunday    EgyptAir offering discounts for some international flights    Egypt records 212 new coronavirus cases, 14 deaths on Saturday    Egypt to require PCR coronavirus tests for airport travelers    Egypt sends 125 tonnes of glass by sea to Beirut    Legend Messi officially wants to leave Barcelona, hands transfer request    Global smartphone sales drop 20% in Q2, yet Apple's iPhone sales steady    Sisi: Egypt keen on establishing development projects with Iraq, Jordan    Egyptian megastar Amr Diab releases new hit music video    Making of Harry Potter will be available for fans at new park in Tokyo    Egypt's Senate elections official results to be announced Wednesday    Netflix Egypt is bringing megastar Amr Diab back with a new original    Egypt reopens Rafah border crossing for first time since April    Egypt's senate elections 2020 trending on social media in few days    African Champions League final will be played on Oct. 16-17, CAF says    No room to delay Egyptian Premier League games – EFA's board member    The Facebook Preacher's Search for Fame, and Egypt's Economy    Egypt calls on UNSC to address oil spill risks off Yemen coast    Egypt economically strong in face of COVID-19, reforms ongoing: International Cooperation Minister    Arafa Holding reports $144,000 COVID-19-related losses in April    Egypt's efforts in Libya to activate free will of Libyan people: Al-Sisi    Hyksos campaigns were internal takeover, not foreign invaders: study    COVID-19 affects Egypt sporting clubs    COVID-19 will soon turn to seasonal like swine flu: Presidential Health Advisor    ‘Egypt's Support' coalition convenes to discuss its Senate election list    Robbery attempt leads to discovery of Ptolemaic monuments in Qena    Flouting international guidance, Ethiopia unilaterally starts filling its Nile dam    Zaha speaks out after online racial abuse    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Egypt's c.bank, Dubai's DFSA ink MoU to curb financial crime
Published in Amwal Al Ghad on 08 - 08 - 2019

The Central Bank of Egypt (CBE) inked a memorandum of understanding (MoU) with the Dubai Financial Services Authority (DFSA) to strengthen cooperation between the two parties and facilitate the performance of their respective supervisory tasks.
A DFSA statement released today said the MoU enhances the safety and soundness of banks in their respective jurisdictions, including combating financial crime, conducting consolidated supervision of common firms, and discussing crisis management.
"We are honoured to be working hand-in-hand with the CBE. This MoU will enhance the cooperation and relationship between the two bodies by promoting stable and transparent financial services in our respective jurisdictions as well as contribute to strengthening investor confidence," chief executive of the DFSA in Dubai Bryan Stirewalt stated.
CBE Governor Tarek Amer said the MoU will help facilitate the exchange of information and performance of the supervisory tasks as well as promote the safety and soundness of banks in jurisdictions, exchanging staff experience and training in the scope of banking supervision.
The Dubai financial authority has enjoyed a close working relationship with its Egyptian counterparts for many years. In September 2006, the Capital Markets Authority of Egypt (the predecessor to the Egyptian Financial Supervisory Authority) was the first regulator outside the UAE to sign an MoU with the DFSA.
In 2014, the DFSA signed an MoU with the then newly established Egyptian Financial Supervisory Authority, which has a broad regulatory remit for supervising and regulating non-banking financial markets and instruments, including capital markets, securities exchange, insurance services, mortgage finance, financial leasing, factoring and securitisations.
Source: Ahram Online


Clic here to read the story from its source.