The Hong Kong Monetary Authority and the Dubai Financial Services Authority agreed to step up fintech collaboration between the two financial hubs.
With a view to facilitating financial innovation in the two jurisdictions Shu-pui Li, executive director of the Hong Kong Monetary Authority (HKMA), and Ian Johnston, chief executive of the Dubai Financial Services Authority (DFSA), signed off an agreement
The pair hope that the co-operation will see the two authorities collaborate on referrals of innovative businesses, information sharing and joint innovation projects. In August Hong Kong's Securities and Futures Commission (SFC) also entered into a cooperation agreement with the DFSA.
Taxing Times For the UAE
The United Arab Emirates was named in a blacklist of tax havens by European Union finance ministers this week as being uncooperative on tax matters. The move angered Dubai-based executives as publication «The National» reported.
Bankers in the emirate claimed that the blacklist was more of a political exercise than an objective undertaking that judged jurisdictions on specific criteria.
