Bank of Mauritius and DIFC sign a MoU to facilitate exchange of information in banking and finance

Banking

Staff Writer

Published: 15/02/2022

  • The MoU was signed by Harvesh Seegolam, Governor of the Bank of Mauritius, and by H.E. Essa Kazim, Governor of the DIFC.
  • The MoU establishes a formal framework for co-operation and assistance between the Bank and DIFC.
  • The MoU will facilitate the exchange of information between the two entities.
  • The Bank and DIFC focus on strengthening collaboration in the field of research pertaining to financial services, banking, cybersecurity and FinTech, among others.
"Being the leading global financial centre in the MEASA region, DIFC takes its supranational duties and co-operation with other regulators and authorities very seriously. Mauritius is a key jurisdiction for clients of some of our DIFC establishments, and exchange of information and co-operation are therefore important to us,”
– Essa Kazim, Governor of the DIFC

Dubai, UAE, 15 February 2022: The Bank of Mauritius (Bank) and the Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, have signed a Memorandum of Understanding (MoU). The MoU establishes a formal framework for co-operation and assistance between the Bank and the DIFC.

The MoU will facilitate the exchange of information between the two entities, including in key areas of banking and financial services.

Through this MoU, the Bank and DIFC are also establishing a framework relating to capacity-building in the financial services industry. The framework covers the organisation of meetings, consultations, seminars, workshops, internships as well as study visits and experts’ visits in areas of common interest.

Co-operation is also a key element of the MoU. The Bank and DIFC are focusing on strengthening collaboration in the field of research pertaining to financial services, banking, cybersecurity and FinTech, among others.

The MoU was signed by Harvesh Seegolam, Governor of the Bank of Mauritius, and H.E. Essa Kazim, Governor of the DIFC.

H.E. Essa Kazim, Governor of the DIFC, said: “The MoU between DIFC and the Bank will lay the foundation for further collaboration in areas of banking and financial services between the two entities. Being the leading global financial centre in the MEASA region, DIFC takes its supranational duties and co-operation with other regulators and authorities very seriously. Mauritius is a key jurisdiction for clients of some of our DIFC establishments, and exchange of information and co-operation are therefore important to us. We look forward to this partnership and we will extend our full support and share the knowledge we have gained from our experience.”

Harvesh Seegolam, Governor of the Bank of Mauritius, said: “This MoU is a milestone in strengthening the Bank’s relationship with the financial centres that stand as world-class references – DIFC is one of them. The deepening of co-operation with DIFC will help the Bank enhance its processes for the exchange of information, capacity building and sharing of expertise.”