The cabinet on Wednesday approved signing of MoUs by market regulator Securities and Exchange Board of India (SEBI) with its counterparts in Gibraltar and Kuwait for strengthening the information sharing framework and mutual co-operation.
SEBI's Memorandum of Understanding (MoU) with the Financial Services Commission of Gibraltar and the Capital Markets Authority of Kuwait will promote further development of economic links and cooperation with these organisations, the Finance Ministry said in separate statements here.
According to the ministry, the agreements will strengthen the mutual information-sharing framework and add value to overseas mutual cooperation and the regulatory activities of these organisations.
"The MoU is likely to promote further development of economic links and cooperation between the two regulators, and aims at creating conditions for an effective development of securities markets in the two countries," it added.
--IANS
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