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Egypt and Kazakhstan sign cooperation memorandum on financial services

Wednesday 04 July 2018 02:42 PM

Mohamed Omran
Mohamed Omran

The signing of a memorandum of understanding between the Egyptian Financial Supervisory Authority (FSA) and the Financial Services Authority (AFSA) of Kazakhstan took place for the purpose of consultation, cooperation and exchange of information in the field of financial services in the insurance and capital market activities.

The Financial Supervisory Authority’s Chairman, Dr. Mohamed Omran, and Financial Services Authority of Astana’s Chief Executive Officer Mr. Stephen Glenn signed the memorandum of understanding in the presence of Governor of the Astana International Financial Center, as part of launching the Center with the participation of Kazakhstan’s President.

Omran said that both sides expressed their willingness to cooperate with each other in monitoring and regulating the capital market and insurance activities on the basis of mutual trust and understanding in supervising transnational corporations within their respective jurisdictions and mandates.