QFC Regulatory Authority signs a MoU with CSSF Luxembourg

Doha, April 01 (QNA) - The Qatar Financial Centre (QFC) Regulatory Authority has entered into a Memorandum of Understanding (MOU) with the Commission de Surveillance du Secteur Financier (CSSF). The CSSF is responsible for the prudential regulation of the banking and securities sectors in Luxembourg. The MOU was signed by Mr. Jean Guill, Director General of the CSSF and Mr. Michael Ryan, Chief Executive Officer of the QFC Regulatory Authority. The signing of the MOU provides the basis for future co-operation between the regulators, including the sharing of information, resources and assistance regarding financial institutions operating in both the Qatar Financial Centre and Luxembourg. Michael Ryan, Chief Executive Officer of the Regulatory Authority welcomed the signing of the MOU saying: "The Regulatory Authority is committed to developing and maintaining positive relationships with members of the international regulatory community in order to ensure a regular and productive exchange of supervisory information and resources. The agreement with Commission de Surveillance du Secteur Financier will lay the foundation for a very constructive working relationship between the CSSF and the Regulatory Authority." (QNA)