Abu Dhabi: The Securities and Commodities Authority (SCA) has signed a Memorandum of Understanding (MoU) with the Agency for Securities Market Development and Specialized Registration at the Ministry of Finance of Tajikistan. This MoU aims to enhance international cooperation in oversight and supervision, improving the transparency and efficiency of financial markets in both countries.
Dr. Maryam Butti Al Suwaidi, CEO of SCA, and Nigina Abdurakhmanova, Director of Tajikistan’s Agency for Securities Market Development and Specialized Registration, signed the agreement at the SCA headquarters in Abu Dhabi.
Sharifi Bahadur Mahmoudzadeh, Ambassador of Tajikistan to the UAE, and several other officials from both countries were also present.
![Maryam Butti Al Suwaidi](https://cdn.emiratitimes.com/wp-content/uploads/2024/06/28183729/Maryam-Butti-Al-Suwaidi.jpg)
Dr. Maryam Butti Al Suwaidi, CEO of the Authority, said that, “The signing of this MoU is a major stride towards boosting our cooperation with the Republic of Tajikistan. It reflects our commitment to broadening our international collaboration horizons in various fields and our dedication to achieving shared goals aimed at building a safe and stable investment environment that benefits investors and drives economic development in both countries.”
The parties to the MoU shall work together to enforce relevant laws and rules on jointly listed firms in their respective financial markets.
The agreement also covers the management of investor concerns and complaints against unlicensed and shell businesses, as well as mutual cooperation on joint investigations into infractions pertaining to securities market transactions and noncompliant financial services firms’ operations. It also calls for the implementation of cooperative training programs to improve the effectiveness and output of licensed personnel.