Astana: The Sultanate of Oman, represented by the Financial Services Authority (FSA), and the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market have signed a Memorandum of Understanding (MoU) aimed at enhancing cooperation in financial regulation, exchange of expertise, and development of market infrastructure.

According to Oman News Agency, the memorandum was signed during the Astana Financial Conference, a global gathering of regulators, policymakers, and financial leaders focused on the future of capital markets. The signatories were Abdullah bin Salem Al Salmi, Executive President of the FSA, and Madina Abylkassymova, Chairperson of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market.

The Sultanate of Oman and the Republic of Kazakhstan have a history of strong relations based on mutual respect, economic cooperation, and cultural exchange. These relations have been reinforced through high-level visits, trade delegation
s, and joint initiatives across sectors such as energy, logistics, investment, education, and tourism.

The memorandum will see both regulators coordinating their positions in international organisations and participating jointly in activities and events. This cooperation aims to give both countries a stronger presence in international financial dialogues and allow them to adopt global best practices.

A significant focus of the memorandum is the support and empowerment of the Tabadul Platform, a regional initiative to link stock exchanges and facilitate cross-market trading. By enabling smoother cross-border transactions, Tabadul is expected to boost market liquidity, attract international investors, and advance regional integration within agreed regulatory frameworks.

The memorandum also outlines a programme of technical assistance, including the exchange of regulatory expertise, expert visits, and sharing of research and publications. It encompasses joint training programmes and collaboration in capacity-
building and human resources development to reinforce legal and regulatory frameworks in both countries.

Innovation and financial technology are also key areas within the memorandum. The regulators have committed to cooperation in fintech solutions, digital financial services, and projects linked to modern technologies. They also plan joint initiatives in financial literacy and financial inclusion, aiming to make financial services accessible to a wider segment of society.

The memorandum seeks to enhance cooperation in developing joint projects to modernise financial market infrastructure. This involves deploying advanced technologies like digital trading platforms and modern settlement systems to improve efficiency and resilience. By focusing on infrastructure, both sides aim to create more competitive markets capable of attracting international investment.

Senior officials highlighted that the memorandum would build stronger regulatory ties, support innovation, and encourage new financial products in the
Omani market, promoting sustainable financial development.

The longstanding relations between the Sultanate of Oman and the Republic of Kazakhstan are rooted in mutual respect and cooperation. The memorandum underscores ongoing cooperation, following a previous MoU signed in 2023 between the Astana Financial Services Authority and the Sultanate of Oman, laying the groundwork for collaboration in financial regulation.

It broadens this partnership into areas such as fintech, Islamic finance, asset management, capital markets, training, and information exchange to strengthen oversight and prevent illegal practices.