The memorandum of understanding was signed by Zeti Akhtar Aziz, governor of Bank Negara Malaysia and sultan Bin Nasser Al Suwaidi, the governor of the Central Bank of the United Arab Emirates, while they were both attending the International Monetary Fund and World Bank annual meetings in America’s capital city Washington.
Commenting on the signing, Zeti said the agreement provides “further avenues for our central banks to work together in areas that will facilitate closer financial and economic linkages. I look forward to the cooperation and collaboration with the Central Bank of the United Arab Emirates in deepening our financial sector linkages."
At the beginning of this month, The Monetary Authority of Singapore, the Securities Commission of Malaysia, and Securities and Exchange Commission of Thailand entered into an agreement to facilitate cross-border offering of collective investment schemes to retail investors in the three countries.
Earlier this week, Threadneedle Investments announced its foray in the Malaysian market with plans to offer Shariah-compliant products.
