KUALA LUMPUR: The Securities Commission Malaysia (SC) and the United Arab Emirates' (UAE) Securities and Commodities Authority (SCA) today exchanged a memorandum of understanding (MoU) to forge a strategic partnership in capacity building between the two leading regulators of Islamic capital markets.
In a statement here today, SC said its chairman Datuk Ranjit Ajit Singh, together with SCA chief executice officer Abdullah Al-Turifi, exchanged the MoU at the 10th World Islamic Economic Forum in Dubai, with Prime Minister Datuk Seri Najib Razak witnessing the ceremony.
The MoU sets out the foundation of further co-operation between the SC and SCA, which includes allowing for collaborative initiatives in human capital development, with key emphasis on the development of capital market and financial services industry professionals in both Malaysia and the UAE.
"This aims at enhancing the mobility of talent and professionals between the two leading Islamic finance markets," the statement said.
The MoU will also enable collaboration in research and regional thought leadership events to jointly promote the capital markets.
Securities Industry Development Corporation (SIDC), the SC’s capital market talent development centre, will undertake the task of driving the collaboration with the UAE authority, according to the statement.-- Bernama