Market watchdog Sebi today said it has inked a pact with Botswana's regulatory authority to promote mutual assistance and information exchange related to securities markets in both the countries.
The Memorandum of Understanding will help in "promoting enhanced cooperation and building stronger relationship between Sebi and Non-Bank Financial Institutions Regulatory Authority (NBFIRA), Botswana through sharing of technical expertise and information exchange for more effective development and regulation of securities," Sebi said in a statement.
Apart from promoting mutual assistance and exchange of information between the two authorities, the Memorandum of Understanding (MoU) seeks to establish and implement technical assistance and training programme.
The MoU was signed by Sebi Chairman U K Sinha and NBFIRA Chairperson M Dube today at the regulator's headquarters here.
NBFIRA is the regulator of all non-banking financial entities registered in Botswana including pension funds, asset management, consumer/micro lending, insurance and collective investment undertaking.
Sebi, which has been actively extending and arranging for technical assistance to regulators in the Asia-Pacific and African region, has so far signed 19 bilateral MoUs and one letter of Intent for mutual assistance and cooperation.
