The International Financial Services Centres Authority (IFSCA) has signed a Multilateral Memorandum of Understanding (MMoU) with International Association of Insurance Supervisors (IAIS). With the signing of this MMoU, IFSCA has become part of the group of MMoU signatories, which will facilitate IFSCA in exchange of information and cooperation with most of the global insurance regulatory or supervisory authorities.
The IAIS MMoU provides a global framework of compliance and confidentiality to allow for open cooperation and exchange between insurance supervisors. Through membership in the MMoU, supervisors can exchange relevant information and assist other signatories, thereby promoting the financial stability and sound supervision of cross-border insurance operations for the benefit and protection of consumers.
