The Dubai Financial Services Authority (DFSA) has signed an agreement (Exchange of Letters) with the Financial Services Agency of Japan (FSA) to collaborate in the development of new financial technologies.

Both the authorities will work together to encourage fintech innovation in the Dubai International Financial Centre (DIFC) and in Japan.

In addition, DFSA and FSA agreed to facilitate information exchange on developments as well as enable entry of financial innovators into the respective markets.

DFSA chief executive Ian Johnston said: “We are very pleased to strengthen our long-established collaboration with Japan’s FSA and to enhance our cooperation on matters related to innovation in financial services.

“This is testament to our commitment to foster effective agreements with peer regulators across the globe, engaging on emerging FinTech topics.

“We look forward to working with Japan’s FSA to develop our FinTech proposition and contribute to the efficiency and further enhancements of our respective financial markets.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Offering a regulatory framework for future referrals, this cooperation will also guide the authorities to utilise relevant information from respective markets.

Apart from FSA, the DFSA entered into similar cooperation agreements with multiple other financial regulators.

It has already signed regulatory collaboration agreements with the Australian Securities and Investment Commission, the Hong Kong Monetary Authority and the Malaysian Securities Commission among others.

In June, DFSA signed a memorandum of understanding (MoU) with the Astana Financial Services Authority (AFSA) for cross-border legal and regulatory cooperation.