Kazakhstan, India to take joint action to boost local financial markets

Kazakhstan's Astana Financial Services Authority (AFSA) and the Securities and Exchange Board of India (SEBI) have entered into a Memorandum of Understanding (MoU) for mutual co-operation and technical assistance, Trend reports with reference to the press office of Kazakhstan's Astana International Financial Center (AIFC).

The MoU was signed by Mukhtar Bubeyev, the Acting Chief Executive Officer of the AFSA, and Ajay Tyagi, Chairman of the SEBI.

The arrangement enables collaboration on joint initiatives and efforts to bolster the growth of the financial markets in both India and AIFC.

'œThe AFSA and the SEBI seek to encourage exchange of information in supervision and enforcement in order to facilitate cross-border business of financial institutions in both jurisdictions,'ť the report said.

According to Bubeyev, the AIFC seeks to work and build partnerships with regulators in the Asian region to promote cross-border information sharing and cooperation on matters relating to financial services.

'œWe are very pleased to have signed this MoU with the Securities and Exchange Board of India and we look forward to building a strong relationship between our institutions,'ť Bubeyev said.

In turn, Tyagi said that SEBI is pleased to sign this MoU with AFSA which will enhance bilateral co-operation between the authorities and would establish a stronger relationship with AIFC.

'œWith the markets increasingly becoming inter-connected and the financial entities operating globally, the MoU will be a valuable tool for cross-border co-operation. The MoU will also promote exchange of information for technical assistance and training needs, apart from facilitating cross-border investments,'ť he said

---

Follow the author on twitter: @nargiz_sadikh

---

ˆ©2019 Trend News Agency (Baku, Azerbaijan)

Visit Trend News Agency (Baku, Azerbaijan) at en.trend.az

Distributed by Tribune Content Agency, LLC.