Astana, Kazakhstan – Oman, represented by the Financial Services Authority (FSA), and the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market have signed a Memorandum of Understanding (MoU) aimed at strengthening cooperation in financial regulation, the exchange of expertise, and the development of market infrastructure.

The agreement was signed at the Astana Financial Conference, a global gathering of regulators, policymakers, and financial leaders focused on the future of capital markets. H E Abdullah bin Salim al Salmi, Executive President of the FSA, and Madina Abylkassymova, Chairperson of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market, signed the MoU.

Building on longstanding ties, Oman and Kazakhstan have nurtured relations based on mutual respect, economic cooperation, and cultural exchange. These ties have been strengthened over the years through high-level visits, trade delegations, and joint initiatives across sectors such as energy, logistics, investment, education, and tourism.

Under the MoU, both regulators will coordinate their positions within international organisations and participate jointly in activities and events organised by these bodies. This collaboration is designed to enhance the presence of both countries in global financial discussions while enabling them to benefit from international best practices.

The agreement places particular emphasis on supporting the Tabadul Platform, a regional initiative linking stock exchanges and facilitating cross-market trading. By enabling smoother cross-border transactions, Tabadul is expected to improve market liquidity, attract international investors, and promote regional integration in line with agreed regulatory standards.

The MoU also establishes a broad programme of technical assistance, including the exchange of regulatory expertise, expert visits, and the sharing of research and publications relevant to each authority’s sectors. In addition, it covers joint training programmes and collaboration in capacity-building and human resources development, all aimed at strengthening the legal and regulatory frameworks in both Oman and Kazakhstan.

Innovation and financial technology constitute another key focus. Both regulators committed to cooperating on the development of fintech solutions, projects linked to emerging technologies, and digital financial services. The MoU further highlights joint initiatives in financial literacy and efforts to enhance financial inclusion, reflecting a shared objective of making financial services more accessible to wider segments of society.

The memorandum also seeks to advance the modernisation of financial market infrastructure through joint projects. This involves deploying advanced technologies, including digital trading platforms and contemporary settlement systems, to improve efficiency and resilience. By concentrating on infrastructure, both countries aim to create more competitive markets capable of attracting international investment.

Senior officials emphasised that the MoU will not only strengthen regulatory ties but also support innovation, encourage the introduction of new financial products in Oman, and promote sustainable financial development.

The MoU reinforces the long-established relations between Oman and Kazakhstan, building on a previous agreement signed in 2023 between the Astana Financial Services Authority and Oman, which laid the groundwork for collaboration in financial regulation. It extends the partnership into broader areas, including fintech, Islamic finance, asset management, capital markets, training and awareness programmes, as well as information exchange to enhance oversight and prevent illicit practices.

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