Overview Jurisdiction Al Reem Expansion Authorities Initiatives ADGM Academy Arbitration Centre Overview Business areas Setting up Operating in Public registers Legal framework Regulation Awareness Collaboration Ecosystem ADGM Sustainable Media News Events Spotlight Podcasts Publications Support Make an enquiry Whistleblowing FAQs
A platform that offers limitless opportunities and paves the way for a brighter future

Abu Dhabi boasts first-class infrastructure and unparalleled global connectivity, making it a premier international destination. Its exceptional qualities make it an ideal location to live, work, and conduct business.

Read about Abu Dhabi's lifestyle
Latest initiatives ADGM Announces Incentive Initiative for Existing Al Reem Island Businesses Transitioning to ADGM ADGM Marks Its Presence on Al Reem by Hosting its First Community Event on the Island
Providing an environment that empowers the future

A financial centre that provides transparency, efficiency, and integrity, through its progressive frameworks, future focused infrastructure, all within a familiar independent legal jurisdiction – ADGM is the perfect platform for success.

Find out how to set up in ADGM
Latest news The Registration Authority of ADGM Publishes Consultation Paper on Legislative Framework for a Register of Certain Trust Information ADGM Announces Incentive Initiative for Existing Al Reem Island Businesses Transitioning to ADGM
Preserve our economies and environment for future generations

ADGM, the centre for a transparent and thriving sustainable finance ecosystem.

More about our Sustainability vision
Highlights ADGM, the Region's Leading Climate Finance Hub, Announces its Role as Principal Partner at COP28 ADGM Implements its Sustainable Finance Regulatory Framework
Stay up-to-date with our wide range of available resources

Our community of business professionals, entrepreneurs, and investors can depend on ADGM to provide timely news and reliable insights.

Read our latest news articles
Upcoming events The Settlement of International Energy Disputes in the Middle East LINK Networking Series Economy Middle East Summit 2024
We are here to help

At ADGM, we offer various support options, including contact details, FAQs, enquiry forms, and a whistleblowing form.

View available support options
Some of our FAQ topics
  • Getting started
  • Foundations regime
  • Resolution for incorporation
  • Existing auditors
  • New auditors
  • Announcement




    Monetary Authority of Singapore and Abu Dhabi Global Market foster closer co-operation in banking supervision

    ADGM FSRA 23/11/2017


    Abu Dhabi Global Market (ADGM) and the Monetary Authority of Singapore (MAS) today signed a Memorandum of Understanding (MoU) to strengthen the supervision of cross-border operations of banking institutions. The signing ceremony was held on the sidelines of the annual Abu Dhabi Singapore Joint Forum (ADSJF) in Abu Dhabi today. 
    MAS and the Financial Services Regulatory Authority (FSRA) of ADGM share a common objective to develop sound and robust financial markets and financial ecosystems. This agreement will build on their existing cooperation framework to cover the full spectrum of banks, financial markets and FinTech-related activities.

    Mr Ong Chong Tee Deputy Managing Director, MAS, said, "We are pleased to have concluded this supervisory MoU with ADGM. The MoU will facilitate greater regulatory and supervisory cooperation between the two authorities. This affirms the strong working relationship between MAS and FSRA and our mutual commitment to the close business and investment ties between our two economies."

    Mr Richard Teng, Chief Executive Officer, ADGM FSRA, said, "Singapore and the UAE share very similar strengths in how we constantly reinvent ourselves to strategically support our robust economies, as well as, collaborate with like-minded partners to foster a sound sustainable global financial ecosystem and global market. This partnership is an extension of our commitment to creating and facilitating more cross-border business, growth and investment opportunities between the two markets. I look forward to working closely with the MAS team, leveraging each other's strengths and expertise to introduce innovative initiatives to better serve the dynamic needs of our markets and the future growth of our economies."

    In August 2015, MAS formed a Financial Technology & Innovation Group ("FTIG") within MAS to drive its Smart Financial Centre initiatives. FTIG is responsible for formulating regulatory policies and developing strategies to facilitate the use of technology and innovation to better manage risks, enhance efficiency, and strengthen competitiveness in the financial sector.

    The FSRA launched the Regulatory Laboratory ("RegLab") in November 2016 to provide a controlled environment for Innovator Businesses to develop and test innovative solutions that promote efficiency and consumer choices in the financial sector, and to support FSRA in the development of risk-appropriate and effective regulations for such innovation.

    On facilitating cross-border ties, the FSRA has recently awarded in-principle approval to one Singapore firm who provides credit services. The FSRA is also in regular communication with various Singapore firms, such as fund managers, who are interested in expanding their operations and establishing funds in Abu Dhabi and the wider region. At the ADGM-FinTech Abu Dhabi Summit in October 2017, four Singapore applicants were successfully selected from the Innovation Challenge competition to demo their solutions to the Middle East and North African FinTech community in Abu Dhabi. The overall winner of the Innovation Challenge was a Singapore firm (Silent Eight) that went on to become one of the top FinTech winning firms at the Singapore FinTech Festival in November 2017.

    About the Monetary Authority of Singapore
    As Singapore's central bank, the Monetary Authority of Singapore promotes sustained, non-inflationary economic growth through appropriate monetary policy formulation and close macroeconomic surveillance of emerging trends and potential vulnerabilities. It manages Singapore’s exchange rate, foreign reserves and liquidity in the banking sector. MAS is also an integrated supervisor overseeing all financial institutions in Singapore - banks, insurers, capital market intermediaries, financial advisors, and the stock exchange. With its mandate to foster a sound and progressive financial services sector in Singapore, MAS also helps shape Singapore's financial industry by promoting a strong corporate governance framework and close adherence to the international accounting standards. In addition, it spearheads retail investor education. MAS ensures that Singapore's financial industry remains vibrant, dynamic and competitive by working closely with other government agencies and financial institutions to develop and promote Singapore as a regional and international financial centre.

    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 since 2015. Recognised by the industry for its innovative, strategic and progressive initiatives, ADGM has been awarded as the "Financial Centre of the Year (MENA)" for two consecutive years. ADGM's three independent authorities, the Registration Authority, the Financial Services Regulatory Authority and ADGM Courts, enable registered companies to conduct business successfully and operate with confidence within an international regulatory framework with its own independent judicial system and legislative infrastructure based on the Common Law.

    Established by a UAE Federal Decree as a broad based financial centre and in line with the Abu Dhabi's Economic Vision, ADGM is an extension of Abu Dhabi's role as a reliable and responsible member of the global financial community. Strategically situated in Abu Dhabi, home to one of the world's largest sovereign wealth funds, ADGM plays a pivotal role in positioning Abu Dhabi as a global centre for business and finance that connects the growing economies of the Middle East, Africa and South Asia. ADGM's foundation is anchored on three of Abu Dhabi's strategic strengths - private banking, wealth management and asset management and will continually expand its financial services in response to the needs of its businesses and marketplace.

    ADGM is located on Al Maryah Island, a 114-hectare of financial free zone, housing world-class offices spaces, award-winning hotels, restaurants and life-style retail outlets. All these complement ADGM's international financial centre position as a vibrant destination in the capital city in Abu Dhabi. For more details of ADGM, please visit www.adgm.com or follow us on Twitter: @adglobalmarket and Linked: ADGM

    For further enquiries, please contact:

    Joan Lew, Senior Manager, Communications
    Abu Dhabi Global Market
    Email: joan.lew@adgm.com
    Tel: +971 2 333 8858
    Online: www.adgm.com

    Jacqueline Ong, Deputy Director, Communications
    Monetary Authority of Singapore
    Email: Jacqueline_ong@mas.gov.sg
    Tel: +65 62299159