The Abu Dhabi Global Market (ADGM) has agreed to cooperate on regulation, exchange information and support cross-border activities with Mauritius.
ADGM, a financial free zone in Abu Dhabi that began awarding financial licences last year, signed the agreement with the Mauritius Financial Services Commission in December.
The deal, “represents our mutual endeavour to bridge the gap further with the Middle East countries, to formalise our ally relationship with the Abu Dhabi jurisdiction and to work together towards the development of the respective markets in a business friendly and healthy environment,” said PK Kuriachen, acting chief executive of the Mauritius commission.
Richard Teng, chief executive of the ADGM regulator, said the partnership would bolster regulatory practices in each jurisdiction.
Mauritius has long been used as a financial access point to India, however its future has been put in question by recent changes to the two nations’ double taxation avoidance agreement.
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