(MENAFN - The Peninsula) The Peninsula
Doha: The Qatar Financial Centre Regulatory Authority (QFCRA) and the Central Bank of Oman (CBO) have entered into a Memorandum of Understanding (MoU) to strengthen bilateral relations between the two parties.
The MoU was signed by Michael Ryan, Chief Executive Officer of the QFC Regulatory Authority and Taher Salim Al Amri, Executive President of the CBO. The signing took place on March 7, 2019, during a visit by the QFC Regulatory Authority to Muscat aimed at enhancing ties between the two parties through the MoU framework.
With the MoU, the QFC Regulatory Authority and the CBO seek to encourage the establishment of cross-border financial institutions between both jurisdictions and the exchange of information and expertise relating to financial regulation.
Mr Ryan welcomed the signing of the MoU, saying: 'The QFC Regulatory Authority is committed to international cooperation as it provides an important mechanism for exchange of information and sharing of expertise. We are very pleased to have signed this MoU with the Central Bank of Oman and we look forward to building a strong relationship between our institutions.