Economy News – Baghdad
The Iraqi Securities Authority has announced the signing of a Memorandum of Understanding (MoU) with the Egyptian Financial Supervisory Authority, aimed at fostering collaboration between the two nations’ financial markets. This agreement, executed under the auspices of Prime Minister Mohammed Shia Al-Sudani, seeks to enhance regulatory frameworks and facilitate the exchange of expertise and information.
In a formal statement, the authority highlighted the primary objective of the MoU: to bolster organizational efficiencies within financial markets in both Iraq and Egypt. The accord aims to achieve heightened transparency and operational efficacy, aligning both countries with the best international practices in financial governance.
The memorandum outlines several key components designed to strengthen the regulatory environment, including:
- Enhancing regulatory frameworks to ensure a fair and secure investment climate.
- Providing technical assistance for the training and sharing of expertise, aimed at developing institutional and technical capabilities.
- Addressing illegal practices, such as insider trading and market manipulation.
- Overseeing financial markets to ensure compliance with existing laws and regulatory standards.
- Improving cooperation related to investigations and the sharing of information to maintain high professional and ethical standards.
The signing of this memorandum reflects ongoing efforts to advance financial markets within Iraq and Egypt, thereby increasing their competitiveness on both regional and international stages. This collaboration aims to meet mutual goals in stimulating economic growth and fostering sustainable investment opportunities.
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