Partnerships
NBFIRA exists in a financial ecosystem defined by fast-paced contemporary developments presenting opportunities, challenges and risks for the Non-Bank Financial Institutions (NBFI) sector. NBFIRA has established sound local and international cooperation, which is critical and provides the foundation for an open, fair and sound local NBFI sector. Through cooperation, NBFIRA seeks to make supervision more effective, harmonize practices with other regulators in the region and internationally and combat fraudulent actions of an international nature, ensure adherence to international norms and best practices, exchange of information; reinforce capacity building through cooperation and mutual assistance.
NBFIRA, through its memberships, has an opportunity to benchmark and achieve international best practice, to ensure its vision to efficiently and effectively regulate and supervise in line with international best practice is achieved.
Memorandums of Understanding (MoUs) define the terms of engagement and scope of information sharing between organizations and provide a framework for consistent cooperation
Internationally NBFIRA establishes bilateral and multinational agreements to align its policies and practices with international best practices of standard setters for better regulation and supervision of the non-banking financial services sector.