OREANDA-NEWS. August 9, 2011. The Reserve Bank of India and the Qatar Financial Centre (QFC) Regulatory Authority, on August 4, 2011 signed a Memorandum of Understanding (MoU) to promote greater co-operation and sharing of supervisory information between the two regulators. The MoU was signed at the Reserve Bank’s Central Office Building in Mumbai by Shri P. Vijaya Bhaskar, Executive Director and Mr. Michael Ryan, QFC Regulatory Authority Deputy Chief Executive Officer.

Welcoming the Memorandum of Understanding, Shri Vijaya Bhaskar commented:

“The RBI is looking forward to enhanced co-operation and information sharing with the QFC Regulatory Authority. India and Qatar are among the fastest growing economies in the world, and we are seeing greater economic ties and increased investment flows between both countries. Our co-operation under the Memorandum of Understanding will help to make certain that our organisations are appropriately positioned to ensure that financial institutions under our supervision are well regulated and supported.”