Paul Koster, chief executive of the DFSA signed the MoU with Shri Gopalakrishna at the Central Office of the Reserve Bank of India in Mumbai.
The new agreement has adopted the same model for information sharing as was developed by the Basel Committee on Banking Supervision and follows similar arrangements the DFSA has made with other banking supervispers such as the UK’s Financial Services Authority, Germany’s Bundesanstalt fuer Finanzdienstlesitungsaufsicht, Banque de France, China Banking Regulatory Commission and the US Federal Reserve.
Koster said: “Indian banks have a significant and growing presence in Dubai International Financial Centre so this enhancement of information sharing and assistance between the RBI and the DFSA is a critical step to ensuring confidence in each of our regulatory regimes.”
