SCA signs MoU with Tajikistan's securities agency

ABU DHABI, 28th June, 2024 (WAM) -- The Securities and Commodities Authority (SCA) announced today the signing of a Memorandum of Understanding (MoU) with the Agency for Securities Market Development and Specialised Registration at the Ministry of Finance of the Republic of Tajikistan. The MoU aligns with efforts to enhance international cooperation in the field of oversight and supervision, and improve the transparency and efficiency of financial markets in both countries.

The agreement was signed at the SCA headquarters in Abu Dhabi by Dr. Maryam Butti Al Suwaidi, CEO of SCA, and Nigina Abdurakhmanova, Director of Tajikistan's Agency for Securities Market Development and Specialised Registration, in the presence of Sharifi Bahadur Mahmoudzadeh, Ambassador of Tajikistan to the UAE, along with several officials from both sides.

Dr. Maryam Butti Al Suwaidi, CEO of the Authority, said, “The signing of this MoU is a major stride towards boosting our cooperation with the Republic of Tajikistan. It reflects our commitment to broadening our international collaboration horizons in various fields and our dedication to achieving shared goals aimed at building a safe and stable investment environment that benefits investors and drives economic development in both countries.”

Under the MoU, the two parties will collaborate to enforce applicable legislation and regulations on jointly listed companies in their respective financial markets.

The agreement also provides for handling complaints and reports from investors regarding unlicensed and shell entities, mutual coordination on investigations into violations related to transactions in securities markets, and the practices of non-compliant financial services companies. Additionally, it provides for implementing joint training programmes to enhance the efficiency and performance of licensed individuals.