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Central Bank announces exchange of regulatory information with Financial Services Agency of Japan

posted on 18/06/2015: 1967 views



The Central Bank of the UAE yesterday announced that it has exchanged letters with the Financial Services Agency of Japan for the purpose of cooperation and exchange of regulatory information.

Saeed Abdulla Al Hamiz, Assistant Governor for Banking Supervision, will sign the letters on behalf of the Central Bank of the UAE, and Kenji Okamura, Deputy Commissioner for International Affairs of the Agency, will sign on behalf of the Japan's Financial Services Agency.

The exchange of letters will enable the two countries to establish a mechanism for cooperation in regulatory matters and supervision of banks and other financial institutions operating in both jurisdictions, and the exchange of supervisory information in line with local laws of each jurisdiction, which can contribute to the realisation of a sound financial system in the UAE and Japan .

In a statement, Saeed Abdulla Al Hamiz welcomed the Japanese delegation headed by Mr. Okamura, further emphasising the need for cooperation and coordination with supervisory and monetary authorities to ensure the stability of the financial system in both countries.

This exchange of letters with the Japanese authority confirmed the importance that Central Bank of the UAE attaches to the subject of banking cooperation with international supervisory and monetary authorities. – Emirates News Agency, WAM – http://www.wam.ae/en/news/economics/1395282028318.html

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