Insurance Authority and Dubai Financial Services Authority sign Fintech co-operation agreement

7 December 2017

The Insurance Authority (IA) announced today (7 December 2017) that it had entered into a co-operation agreement with the Dubai Financial Services Authority (DFSA) to enhance collaboration in supporting Fintech innovation.

Under the agreement, the IA and the DFSA will co-operate on information sharing on innovation and referrals of innovative firms seeking to enter the counterpart's market.

"The IA takes proactive steps in strengthening collaboration with other jurisdictions in Fintech development. The agreement with DFSA signifies closer co-operation between the two authorities in fostering and creating business opportunities for Fintech firms on a global reach," said Mr John Leung, Chief Executive Officer of the IA. "The IA will consider signing similar co-operation agreements with insurance regulators in other jurisdictions.”

Mr Ian Johnston, Chief Executive of the DFSA, said: “Our Agreement with the Insurance Authority is indicative of the importance we place on maintaining a close relationship with Hong Kong’s financial services regulators. The signing of these agreements in FinTech is a natural next step to the collaboration we have in regulating traditional financial services.”

Ends


The Insurance Authority in Hong Kong and Dubai Financial Services
Authority signed an agreement to enhance collaboration in supporting
Fintech innovation.