Oman and Malaysia sign joint cooperation programme

The Financial Services Authority (FSA) signed a joint cooperation programme with Securities Commission Malaysia to develop capital market activities, enhance the flow of investments and achieve the common interests of the Sultanate of Oman and Malaysia.

The cooperation programme stems from a Memorandum of Understanding (MoU) signed by the two countries in 2003. It seeks to consolidate the existing partnership between the FSA and Securities Commission Malaysia through the exchange of knowledge, capacity building and regulatory cooperation.

Upon the implementation of the programme, emphasis will be laid on securing market integrity, investor protection and sustainable growth in both conventional and Islamic financial markets.

The cooperation programme was signed by Abdullah Salim Al Salmi, CEO of the FSA, and Dato' Mohammad Faiz Azmi, CEO of the Securities Commission Malaysia.

The programme covers various aspects of developing the securities industry. This includes initiatives on capacity-building, support for learning and development programmes and the study of prospects for concluding a mutual recognition agreement and endorsing collective investment funds.

It also deals with measures on holding sessions of dialogue between the Malaysian Securities Commission and the FSA.