The landmark memorandum of understanding was signed on Wednesday between the Jersey Financial Services Commission (JFSC) and the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM).
The Island’s finance industry has been seeking out business opportunities in the Emirates since the early 2000s, with the first Jersey Finance trade delegation in 2003 led by senior politicians of the day Senators Frank Walker and Pierre Horsfall.
In recent years the JFSC has signed agreements with regulators in over 90 countries, but they describe this latest MOU as ‘a milestone in Jersey’s relationship with the UAE’ and the culmination of collective efforts by the commission, the Island’s government officials and Jersey Finance.
