Cooperation and Information Exchange Agreement Signed
A cooperation and information exchange agreement was signed on Monday, September 15, 2015, between the Financial Market Council (CMF) and the Microfinance Control Authority (ACM), with the aim of strengthening coordination between the two financial regulators, the CMF announced in a statement released on the same date.
Key Provisions of the Agreement
The agreement provides for:
- The exchange of information and data necessary for the accomplishment of the respective control missions
- The realization of joint supervision missions
- The organization of common training programs
- The sharing of technical expertise
- Consultation on legislative and regulatory texts, as well as on the application of international standards in force
Signing of the Agreement
The convention was signed by Hatem Smiri, President of the CMF College Delegate, and Mahmoud Montassar Mansour, General Director of the ACM. It establishes an operational framework for collaboration in the areas of regulation and supervision of financial institutions, microfinance institutions, and crowdfunding platforms.
Objectives of the Initiative
This initiative aims to ensure the protection of the rights of investors and clients of institutions subject to the control of the two authorities. Particular attention will be paid to respecting existing legislation, particularly in the fight against money laundering, terrorist financing, and the proliferation of weapons.
