The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has inked a memorandum of understanding (MoU) with Paris EUROPLACE to foster collaboration on joint financial activities and support growth of financial industry in France and Abu Dhabi.
The agreement will allow Paris EUROPLACE, which is responsible for developing the Paris financial marketplace, and FSRA to exchange data on banking, financial services, securities legislation as well as regulations in each market.
It will also help the two regulators explore mutually beneficial projects to support long term investment opportunities, infrastructure financing, along with new innovations in fintech and green finance.
Paris EUROPLACE CEO Arnaud de Bresson said: "We are honored to reinforce the cooperation and business opportunities between Abu Dhabi and Paris financial marketplaces through this joint agreement. As the first financial marketplace of the Eurozone Paris has strong strengths to share with Abu Dhabi. This agreement paves the way for concrete joint initiatives in the respective fields of expertise of each country."
FSRA ADGM director of international affairs Philippe Richard added: "We are pleased to establish a new partnership with Paris EUROPLACE and look forward to working closely with the team to enhance the Fintech development, innovation and explore possible cross-border investment activities in both financial centres."