The new international financial centre on Al Maryah Island has added to its network of agreements with regulators across the world.

Abu Dhabi Global Market has signed an agreement with the Mauritius Financial Services Commission to facilitate regulatory co-operation and the exchange of information.

The memorandum of understanding that the regulators have just announced was signed in December last year by PK Kuriachen, the chief executive of the MFSC, and Richard Teng, the CEO of the Financial Services Regulatory Authority of the Abu Dhabi Global Market.

The agreement provides a set of rules by which FSRA and MFSC can offer mutual assistance, exchange regulatory information and co-operate on the supervision of cross-border institutions, according to a press release from the Abu Dhabi Global Market.

“This MoU represents our mutual endeavour to bridge the gap further with the Middle East countries, to formalise our ally relationship with the Abu Dhabi jurisdiction and to work together towards the development of the respective markets in a business friendly and healthy environment,” said Kuriachen.

Teng said: “We look forward to working closely with the Financial Services Commission of Mauritius on relevant initiatives to strengthen relationship further, share regulatory experience and insights and bolster the growth of financial services in both markets.”