This archive report was first published on 30 July 2019.
On July 30, 2019, the Capital Markets Authority (CMA) of Kenya and the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) signed a Memorandum of Understanding (MoU) to strengthen cooperation in sustainable finance.
The MoU aims to enhance the development of sustainable finance in both jurisdictions, building on an existing partnership to support financial technology.
Under the partnership, CMA and FSRA will exchange information on products, services, and initiatives, as well as develop legislative, regulatory, and institutional frameworks to facilitate and support sustainable finance.
According to Mr. Paul Muthaura, Chief Executive of CMA, the partnership underscores the importance of sustainable finance and its role in driving the growth of Kenya's capital markets.
Mr. Richard Teng, Chief Executive Officer of the FSRA ADGM, added that the partnership is a continuation of their cooperation on FinTech, which began in 2017, and aims to promote sustainable capital formation and deployment of financing as part of their countries' green economy strategies.
