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DFSA and ASIC sign Fintech agreement

Agreement sets out a framework for cooperation on financial technology

Gulf News

DUBAI

The Dubai Financial Services Authority (DFSA) and the Australian Securities and Investments Commission (ASIC) entered into an agreement on Thursday that sets out a framework for cooperation on financial technology (Fintech) innovation.

The agreement demonstrates a commitment by both authorities to provide a regulatory framework that promotes innovation in financial services and regulatory compliance in their respective markets. The DFSA’s initiatives follow the launch of the Fintech Hive at the DIFC, bringing together the next generation of leaders and entrepreneurs to address the growing needs of the region’s financial services industry, using innovative technology solutions. Its aim is to catalyse growth and efficiency in a variety of areas including trade finance, alternative finance and Sharia-based services.

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