SCA and Tajikistan’s Agency for Securities Sign MoU
Abu Dhabi, The Gulf Observer: The Securities and Commodities Authority (SCA) announced today the signing of a Memorandum of Understanding (MoU) with the Agency for Securities Market Development and Specialised Registration at the Ministry of Finance of the Republic of Tajikistan. This MoU aims to enhance international cooperation in oversight and supervision, and improve the transparency and efficiency of financial markets in both countries.
The signing ceremony took place at the SCA headquarters in Abu Dhabi, with Dr. Maryam Butti Al Suwaidi, CEO of SCA, and Nigina Abdurakhmanova, Director of Tajikistan’s Agency for Securities Market Development and Specialised Registration, formalizing the agreement. The event was attended by Sharifi Bahadur Mahmoudzadeh, Ambassador of Tajikistan to the UAE, along with several officials from both sides.
Dr. Maryam Butti Al Suwaidi remarked, “The signing of this MoU is a major stride towards boosting our cooperation with the Republic of Tajikistan. It reflects our commitment to broadening our international collaboration horizons in various fields and our dedication to achieving shared goals aimed at building a safe and stable investment environment that benefits investors and drives economic development in both countries.”
Under the terms of the MoU, both parties will collaborate to enforce applicable legislation and regulations on jointly listed companies in their respective financial markets. The agreement also includes provisions for handling complaints and reports from investors concerning unlicensed and shell entities, mutual coordination on investigations into violations related to securities market transactions, and addressing the practices of non-compliant financial services companies. Furthermore, the MoU provides for the implementation of joint training programs to enhance the efficiency and performance of licensed individuals.
This partnership marks a significant step forward in strengthening the regulatory frameworks of both countries, fostering a more transparent and efficient financial market environment.
