Abu Dhabi Global Market and Jersey Financial Services Commission sign statement of Co-operation AgreementADGM RA 26/03/2018
Abu Dhabi Global Market (ADGM) and Jersey Financial Services Commission (JFSC) are pleased to announce a collaboration agreement to disseminate trends on registries, services and operations in real time to promote growth in both jurisdictions. This new partnership was established during the signing of a statement of co-operation agreement by Mr. John Harris, Director General of the JFSC and Jersey Companies Registry and Mr. Dhaher Bin Dhaher AL Muhairi, Chief Executive Officer of the Registration Authority of ADGM.
The partnership reinforces ADGM's commitment, as an international financial centre to enhance and build stronger collaborations with company registries in other jurisdictions. The agreement between ADGM and JFSC is aimed towards attaining mutually beneficial goals through an exchange of information, views and fostering development in their respective jurisdictions.
Both authorities are committed to providing an environment for the exchange of views and expertise in the area of registering services and operations whilst creating a shared understanding of the legislative, procedural and information technology frameworks in registering companies and other legal entities. Furthermore, both organisations will engage in joint activities and training initiatives that will foster best practice and greater development in both financial markets and services.
Dhaher AL Muhairi, Chief Executive Officer of the Registration Authority of ADGM stated:
"One of ADGM’s major strengths is to create a mutual partnership with leading companies registries around the world in order to maintain and share best practices in international standards. This partnership presents a unique opportunity for our employees to develop their skills and share knowledge. We look forward to working closely with our partner to support the companies registries' development in ADGM."
John Harris, Director General of the JFSC and Jersey Companies Registry added:
"We are delighted to enter into this additional landmark agreement with ADGM that complements our regulatory MOU signed in February 2016. We are somewhat unique in both being authorities that combine regulatory and registry functions, and as such we can only gain from this mutually beneficial additional partnership combining knowledge, experience and best practice in the registry field to assist market development."
About Abu Dhabi Global Market:
Abu Dhabi Global Market (ADGM), an international financial centre (IFC) located in the capital city of the United Arab Emirates, opened for business on 21 October 2015. Established by UAE Federal Decree as a broad-based financial centre, ADGM plays a pivotal role in positioning Abu Dhabi as a global centre for business and finance. It serves as a strategic link between the growing economies of the Middle East, Africa and South Asia and the rest of the world.
Based in Abu Dhabi, home to one of the world's largest sovereign wealth funds and one of the highest concentrations of high-net-worth-individuals in the world, ADGM's strategy is anchored by Abu Dhabi's key strengths including private banking, wealth management, asset management and financial innovation. Comprising three independent authorities: the Registration Authority, the Financial Services Regulatory Authority and ADGM Courts, it enables registered financial institutions, companies and entities to thrive and operate within an international regulatory framework based on Common Law.
Since its inception, ADGM has been awarded the "Financial Centre of the Year (MENA)" for two consecutive years for its initiatives and contributions to the financial and capital markets industry in the region.*
As part of its mandate, ADGM oversees and governs the Al Maryah Island, a designated financial free zone covering 114-hectares of financial and commercial services including residential, retail, leisure, hotel and office developments. For more details of ADGM, please visit www.adgm.com or follow us on Twitter: @adglobalmarket and Linked: ADGM
* Source: The Global Investor Middle East and North Africa (MENA) Awards
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For additional information about Jersey Financial Services Commission (JFSC) visit the below website: