Financial Services Agency Of Japan: Exchange Of Letters On Co-operation In The Area Of Financial Supervision With Dubai Financial Services Authority

On November 12, 2007, Mr. Takafumi Sato, Commissioner of the Financial Services Agency of Japan (JFSA), met Mr. David Knott, Chief Executive of the Dubai Financial Services Authority (DFSA) who visited the JFSA. During the meeting, they exchanged letters on co-operation in the area of financial supervision between the JFSA and the DFSA.

In order to respond to acceleration in cross-border activities by financial institutions and globalisation of financial transactions, it is becoming increasingly important for supervisory authorities to strengthen co-operation among themselves. The letters express the both supervisors' interest in enhancing co-operation.