The Dubai Financial Services Authority (DFSA) said it has signed an agreement with Lebanon’s Capital Markets Authority (CMA).

The MoU will enhance information sharing and co-operation on supervisory issues, further extending the existing relationship between the two markets, said a statement from DFSA.

It also provides the foundation to facilitate the entry of some financial institutions into the Dubai International Financial Centre, DIFC, from Lebanon, through information sharing, remarked Ian Johnston, the chief executive of DFSA, after signing the deal with Sami Saliba, the executive board member of CMA, at DFSA's headquarters.

"Building strong frameworks of cooperation with our regional peers has always been a strategic objective for us. We have MoUs in place throughout the GCC as well as in Egypt, Jordan and the Banque du Liban (BDL) in Lebanon," remarked Johnston.

"Today’s MoU affirms the success of our relationship with the Lebanese authorities and recognises the joint oversight of brokerage firms, investment banks and other non-banking financial institutions in the two jurisdictions," he added.-TradeArabia News Service