On 23 March 2021, the Bank of Italy and the Dubai Financial Services Authority signed a Memorandum of Understanding (MoU) to facilitate the performance of their respective duties in ensuring the safe and sound functioning of their supervised entities.
This legally non-binding agreement provides a framework for effective cooperation and information exchange between the two authorities including, among other things, procedures for conducting on-site inspections on the premises of supervised entities physically located in the jurisdiction of the other authority.
