Utilities Regulatory Authority and Vanuatu Financial Services Commission sign MOA

The Utilities Regulatory Authority (URA) and the Vanuatu Financial Service Commission (VFSC) signed a Memorandum Of Agreement (MOA) for Cooperation in the Exchange of Information.

The Chief Executive Officer (CEO) of the URA, John Obed Alilee and the Commissioner of the VFSC Mr Branan Karae signed the MOA in Port Vila recently.

 The Agreement paves the way for the two institutions to strengthen their working relationship towards the implementation of their common goals and roles within the economy.

The MOA principally allows the two organisations in the spirit of cooperation and mutual interest, to exchange information to facilitate the detection, investigation and prosecution of a money laundering office, a finance terrorism offence or and other serious office stipulated under the laws administered by VFSC and URA.

Mr Karae expressed great gratitude towards Mr Alilee, the URA and VFSC staff for facilitating the processes towards a final signing of an important Agreement and stated that the VFSC and the URA share a number of common areas of interests and VFSC is committed to the implementation of the MOA.

Mr Alilee in his response congratulated the two entities on this special occasion and stated that the maintaining of the close collaboration between the regulatory bodies in Vanuatu is very important to the enforcement of industry best practices and compliance.

Photo supplied Caption: VFSC Commissioner Branan Karae with URA CEO, John Obed sign the MOA

     

Author: 
Tensly Sumbe