ADGM and Casablanca Finance City ink MoU to develop financial services

The Abu Dhabi Global Market (ADGM) and the Casablanca Finance City (CFC) have signed on Monday a Memorandum of Understanding (MoU) to foster closer collaboration between the United Arab Emirates and Morocco and promote the development of financial services in the respective markets.

The MoU was signed by Dhaher Bin Dhaher Al Mheiri, Chief Executive Officer of the ADGM's Registration Authority and Said Ibrahimi, Chief Executive Officer of the Casablanca Finance City Authority.

The MoU focuses on strengthening partnership between the authorities to explore possible cross-border initiatives, facilitate knowledge sharing and accelerate the development of the financial services sector to support the growth of the MENA region.

The MoU provides a platform for the authorities to foster best practice and knowledge in the fields of green finance and financial technologies.

Said Ibrahimi commented «we have the strong conviction that such fruitful cooperation will play an instrumental role in fostering business ties between the UAE, Morocco and Africa».

Dhaher Bin Dhaher Al Mheiri told the press that «we look forward to working closely with Casablanca Finance City to bolster knowledge sharing initiatives and achieve sustainable development in all respective markets, in addition to supporting international relations. We will work closely to develop a robust financial services sector that is supported by green finance and innovative financial technologies».