The Union Cabinet has given its approval to Securities and Exchange Board of India (SEBI) to sign a MoU with Financial Services Regulatory Authority (FSRA), Abu Dhabi. The MoU is for mutual co-operation and technical assistance between the two financial regulators of both countries. 

The MoU seeks to promote further development of economic links and cooperation between the SEBI and FSRA. It will also help to create conditions for development of securities markets in the two countries. It would also facilitate towards strengthening the information sharing framework between the two regulators. Background SEBI signs MoUs with different country’s financial jurisdictions who are not a signatory to the multilateral MoU of International Organisation of Securities Commissions (IOSCO). IOSCO’s MoU encourages the exchange of information and assistance between signatory parties. SEBI is a signatory to global market regulators’ grouping IOSCO’s MoU. So far SEBI has signed bilateral agreements with a number of countries including Mauritius, Bangladesh etc.