Taiwan, Israel sign MOU on Fintech cooperation

2022/07/15

The Cabinet-level Financial Supervisory Commission and the Israel Securities Authority concluded a memorandum of understanding on financial technology cooperation July 13 via video link, spotlighting government efforts to promote global partnerships in the sector.
 
Signed by FSC Minister Thomas Tien-mu Huang and ISA Chairwoman Anat Guetta, the pact provides a framework for collaboration and information sharing in Fintech and investments between the regulatory bodies, the FSC said.
 
In particular, the pact includes a referral mechanism to help innovative businesses better understand the regulatory regime in each other’s jurisdictions, the FSC added.
 
Describing the MOU as a milestone in bilateral cooperation, Huang said he expects businesses from both sides to expand their presence in each other’s capital markets, while Guetta said the deal is part of ISA’s ongoing workstream to share knowledge and experience with its global partners.
 
As Fintech is a priority for Taiwan’s financial sector development, the FSC established an innovative Fintech experimental mechanism in April 2018. It then launched a business trial mechanism the following year to enable financial institutions to test new technologies in pilot schemes.
 
Another key initiative is the fourth FinTech Taipei exhibition set for Oct. 28-29 that comprises an international tech forum, conference and innovator matchup meetings. The past three editions of the event have attracted a combined total of over 80,000 participants, the agency said.
 
The MOU is the fifth signed by the FSC with foreign counterparts, following those with regulators in Poland, the U.S. state of Arizona, France and Canada in that order.


Source: Taiwan Today (https://taiwantoday.tw/index.php)