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Dubai Financial Market Signs Memorandum of Understanding with Korea Securities Finance Corporation
Feb 23, 2015
Dubai Financial Market (DFM) has signed a Memorandum of Understanding (MoU) with Korea Securities Finance Corporation (KSFC) in order to create a mechanism for long-term co-operation to foster the continuing relationship between the two sides for the benefit of the respective securities markets in Dubai and Korea.
 
The MoU provides a general framework for areas of cooperation aims as it aims to strengthen collaboration between both sides in the capital markets including; exchange of information, secondments and training of staff, as well as to improve the professional competence of staff and facilitate various formulas of cooperation.
 
His Excellency Essa Kazim, Chairman of DFM, and Mr. Jaeseek Park, President and CEO of KSFC, have signed the MoU, in the presence of senior representatives from both sides, during the visit of the Korean delegation to DFM.
 
As the only securities finance company in Korea, KSFC provides various financial products such as margin financing loans, securities-backed loans, various deposits, and discount notes and financial services including SBL, trust, and custodian services. It also performs public functions by safely managing investor’s deposits and providing ESOP-related support.
 
The two parties agreed to put their best effort to explore new areas of cooperation and exchange of personnel through cross-training program, exchange of information of operations-related statistics and market updates.
 
Commenting on this, His Excellency Essa Kazim, Chairman of DFM said, “We are delighted to receive the visiting delegation from Korea as we constantly endeavor to strengthen relationship and share knowledge on international best practices with various companies operating in capital markets sector. We look forward to see this MoU put into practice paving the way for both the DFM and KSFC  to get the most out of it and foster the relation between our country and Korea.”
 
KSFC President Mr. Jaeseek Park said, “We are very pleased to have established a cooperative relationship with DFM, which is a regional capital market leader. KSFC has promoted investor base expansion and market stability in Korea for the past 60 years since its foundation. We at KSFC strive to contribute to the development of regional capital markets by sharing our experience with institutions operating in markets around the world. I hope that today’s MOU will become the foundation for stronger friendship and cooperation between DMF and KSFC and more active financial exchange between the UAE and South Korea.” 

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