Astana: The Sultanate of Oman and the Republic of Kazakhstan have entered into a memorandum of understanding (MoU) aimed at strengthening collaboration in financial regulation, sharing expertise, and developing financial market infrastructure.
This MoU was formalized during the Astana Financial Conference, which took place in the Kazakh capital, Astana, with the involvement of regulatory authorities, policymakers, and financial leaders who gathered to deliberate on the future of capital markets.
The signing was conducted by Abdullah bin Salem Al Salmi, CEO of the Financial Services Authority (FSA) on behalf of Oman, and Madina Abylkasimova, Head of the Agency for Financial Market Regulation and Development of Kazakhstan, representing the Kazakh side.
According to the MoU, both parties will collaborate to support and facilitate the ‘Tabadul’ platform, a regional initiative designed to link stock exchanges, promote cross-market trading, and enable cross-border transactions. This platform is anticipated to enhance liquidity in stock exchanges, draw in more international investors, and foster regional integration in accordance with established regulatory frameworks.
The MoU outlines provisions for the exchange of regulatory expertise, the organization of expert visits, the sharing of research and publications pertinent to the sectors overseen by each party, and collaboration in capacity building and human resource development to improve the legal and regulatory frameworks in both the Sultanate of Oman and the Republic of Kazakhstan. Additionally, the MoU emphasizes innovation and financial technology, as well as joint initiatives focused on financial education and the promotion of financial inclusion.
The memorandum's signing is a result of the strong ties between the Sultanate of Oman and the Republic of Kazakhstan, founded on mutual respect, economic collaboration, and cultural exchange. Over the years, these ties have been reinforced through high-level visits, trade delegations, and collaborative efforts in areas including energy, logistics, investment, education, and tourism.
It is important to highlight that in 2023, the Financial Services Authority entered into a Memorandum of Understanding with the Astana Financial Services Authority in the Republic of Kazakhstan.
