An agreement between my bodies "stock" In the Emirates and Hong Kong for mutual recognition of investment funds
Abu Dhabi, September 18/ WAM/ The Securities and Commodities Authority (SCA) and the Securities and Future Contracts in Hong Kong announced the signing of a strategic memorandum of understanding, the first of its kind, to mutual recognition of investment funds and investment management companies between the two sides.
According to a press release issued today, the memo represents a milestone in the history of financial cooperation between the Middle East and Asia, and prepares the way for new horizons of growth and innovation.
This memorandum strengthens the bonds of organizational cooperation between the two financial centers, and reduces the double requirements, which accelerates access to the cross -border markets and expands investment opportunities.
The memorandum, in addition to mutual recognition and enhancing sustainable cooperation in international financial markets, includes multiple aspects of cooperation between the two bodies, including exchanging information, field visits across the border, exchanging experiences and best organizational practices.
His Excellency Walid Al -Awadi, CEO of the Securities and Commodities Authority said that this partnership with Hong Kong represents a turning point that redefines the global investment scene, and opens unprecedented opportunities for investors to engage with one of the most advanced financial centers in the world, stressing the commitment to enable investors through an advanced investment system, enhances innovation, to set new standards for international best practices, and establishes the position of the Emirates A global financial center.
For her part, Julia Lyong, CEO of the Securities and Future Contracts at Hong Kong, said that this understanding has opened a new chapter in organizational cooperation between Hong Kong and the UAE, as he not only confirms the city’s position as a preferred destination for investment funds, but also highlights its role as a major gateway between China and the Middle East, especially in light of a global, rapidly developed scene.
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