Australia agrees fintech partnership with Dubai

The Australian Securities and Investments Commission has agreed a financial technology partnership with the regulator of the Dubai International Financial Centre.

The two entities resolved to provide supportive regulation for fintech and to share information about innovative services.

John Price, commissioner of the Australian body, said technology related to financial industry regulation, so-called regtech, would be included in the partnership.

“Regtech is becoming more and more important – this is a new frontier in our bilateral cooperation that will benefit both regulators and businesses,” he said.

The commission signed the memorandum with the Dubai regulator, the Dubai Financial Services Authority, in Melbourne.

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