CMA and Capital Market Authority of Brunei Ink MOU
His Excellency Abdullah Salim Al Salim, Executive President of the Capital Market Authority and Sayyid Yusof Haji Abd Rehman, Managing Director of Athoriti Monetari Brunei Darussalam signed a memorandum of understanding on Monday 23 January 2017 at the premises of the Capital Market Authority of Oman for the exchange of information and mutual cooperation.
This was concluded on the sidelines of the meetings between CMA and the Authoriti Monetari Drunei Darussalam which discussed a number of topics relating to the two countries and the opportunities of cooperation to boost the exchange of information for the benefit and upgrading the capital markets in the two countries and for provision of financing instruments and products in safe and fair investment environment .
The meeting witnessed introductory presentation on the development of the capital market in the Sultanate and phases of its regulation.
The Authoriti Monetari Brunei Darussalam aims from the MOU to benefit from the experience of Oman in the regulation of the capital market sector and to identify the fields of cooperation. They were acquainted with the Omani experience and the laws relating to the issuance of securities and other investment instruments, management, advise and supervision of stock exchanges, clearing and depository institutions and compliance with the laws and regulatory systems applied in the two countries, beside assisting in detecting and preventing any prohibited and unsound practices and other forms of securities fraud .
The MOU included exchanged of information and mutual cooperation in the field of investor protection and soundness of stock exchanges through the provision of frameworks to upgrade the level of understanding in exchange of information and professional expertise and to encourage cooperation between capital market institutions including the securities markets, clearing and depository institutions and financial services companies and coordination in dispute resolution.