Dubai’s latest fintech deal is with Malaysia

The regulator of the Dubai International Financial Centre (DIFC) has vowed to collaborate on financial technology with the Securities Commission Malaysia.

The partners are especially interested in technology related to Islamic finance, said a statement from the Dubai regulator, the Dubai Financial Services Authority.

Ian Johnston, the authority’s chief executive, said the partnership “will further strengthen our fintech proposition across traditional and Islamic finance markets”.

The latest deal extends a relationship established in 2007, when the two regulators signed a mutual recognition agreement for cross-border distribution of Islamic funds.

The DIFC is involved in several initiatives aimed at establishing Dubai as a hub for financial technology.

©2017 funds global mena

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