ABU-DHABI – Abu-Dhabi Global
Market announced that the Registration Authority of Abu Dhabi Global Market
(ADGM), the International Financial Centre in Abu Dhabi, has entered into a
memorandum of understanding (MoU) with the Companies and Intellectual Property
Commission (CIPC) of South Africa. The
MoU provides a framework within which ADGM will work collaboratively with CIPC
on issues of mutual interest in the field of registries by incorporating each
organization’s appropriate resources and technical capacity.
The MoU was signed by the
Commissioner of CIPC Adv Rory W. Voller and Chief Executive Officer (CEO) of
the Registration Authority of ADGM Mr. Dhaher Bin Dhaher Al Mheiri.
The objective of this MoU is to
work towards strengthening the mutual understanding of the legislative,
procedural and information technology frameworks in each party’s respective
jurisdictions in the area of registering companies and other legal entities.
The agreement also aims to
broaden knowledge sharing initiatives that promote the dissemination of best
practice methods. It focuses on the continuous exchange of information about
matters of common interest including but not limited to international standards
and trends relating to registries services and operations.
Both parties have agreed to
provide mutual assistance to facilitate the performance of their respective
functions as well as collaborate on the provision of training and secondment
opportunities for staff of ADGM and CIPC. They have also approved the exchange
of information on public events that are relevant to the operations of a
registry and to provide reciprocal assistance in welcoming delegations from
other jurisdictions that are interested in a party’s operations.
Dhaher Bin Dhaher Al Mheiri, CEO
of the ADGM Registration Authority, said: “The MoU with CIPC establishes a
strategic partnership that develops and enhances ADGM’s international relations
in the field of registries. Through joint
collaboration, we look forward to greater efficiency and effectiveness in
knowledge sharing and optimizing opportunities for growth in the industry.”
Adv Rory Voller, Commissioner of
CIPC stated: “Collaboration is a core value of CIPC and this MoU offers an
opportunity to expand and enhance the relationship with our counterparts at the
ADGM Registration Authority. As part of a global community of registries, this
partnership will enable shared learning to promote best practice in the
corporate registration and regulation regime. Both organizations can leverage
off each other’s strengths”.
The MoU strives to establish
mutually beneficial activities in the field of registries’ services and
operations and marks another addition in the expansion of ADGM’s extensive
global network while supporting ADGM’s commitment to being a leading
international financial center.