DUBAI, Sept. 21 (Xinhua) -- Abu Dhabi and Japan announced on Thursday the completion of a cooperation framework to promote innovation in financial services in both sides.
The financial free zone in the capital of the United Arab Emirates, known as the Abu Dhabi Global Market (ADGM), said on its website that the cooperation was between the Financial Services Agency of Japan (FSA) and the Financial Services Regulatory Authority (FSRA) of ADGM.
"The framework will enable FSA and FSRA to refer innovative FinTech businesses to each other for advice and support via FSA's FinTech Support Desk and FSRA's Regulatory Laboratory, known as RegLab," said the announcement.
"We believe that this framework facilitates our cooperation and contributes to further development of FinTech innovation and our respective markets," said Shunsuke Shirakawa, FSA's Vice Commissioner for International Affairs.
Richard Teng, CEO of FSRA, said that the cooperation further deepens the mutually beneficial partnership between Abu Dhabi and Japan.
