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The Securities and Commodities Authority (SCA) signed a memorandum of understanding (MoU) with the Agency of Securities and Special Registration of the Ministry of Finance of the Republic of Tajikistan to strengthen supervisory cooperation and promote greater transparency and efficiency in the capital markets of both sides.
H.E. Dr. Maryam Buti Al Suwaidi, CEO of the SCA, signed the MoU at the SCA’s Abu Dhabi headquarters with H.E. Abdurakhmonzoda Nigina Shukhrat, Director of the Agency of Securities and Special Registration of the Ministry of Finance of the Republic of Tajikistan, in the presence of H.E. Bahodur Sharifi, Ambassador of the Republic of Tajikistan to the UAE, and senior officials from both sides.
Following the signing, Dr. Al Suwaidi said: “Entering into this MoU represents a significant step to reinforce our cooperative relations with the Republic of Tajikistan, which mirrors our keenness to open new prospects for international action in areas such as inspections and investigations, and reaffirms our commitment to achieving our shared objectives to create a safe and stable investment environment that benefits investors and drives the economic development of both our nations”.
For her part, Abdurakhmonzoda Nigina Shukhrat said: “The Securities and Commodities Authority of the United Arab Emirates and the Agency of Securities and Special Registration of the Republic of Tajikistan have done a lot of work so that today we can sign this important document for us. I would like to express my deep gratitude to the Chief Executive Officer of the Securities and Commodities Authority, Dr. Maryam Buti Al Suwaidi, for her support, and I hope for further mutually beneficial cooperation between our organizations in the development of the capital markets of our countries”.
Under the MoU, the two parties will coordinate to enforce regulations on dually-listed companies. The MoU will facilitate handling investor complaints against unlicensed fictitious companies and foster coordination to investigate violations related to stock market transactions and the practices engaged in by violating financial services companies. It will also allow for the introduction of joint training programs to enhance the competence and professionalism of licensed persons, thus ensuring sound transactions and efficient performance.
