The Union Arab Securities Authority and the International Islamic Centre for Reconciliation and Arbitration have signed a Memorandum of Understanding (MOU) on the sidelines of the Arab Capital Markets Conference held on 27th of March 2019 in Amman, Jordan.

The MOU was signed during the opening ceremony by His Excellency Jalil Tarif, Secretary General of Union Arab Securities Authority and His Excellency Musa Shihadeh on behalf of the International Islamic Centre for Reconciliation and Arbitration – as a member of IICRA Board of Trustees and Chief Executive Officer of Jordan Islamic Bank.

The signed memorandum of understanding strengthens the professional relationship between both institutions and its development in serving the Islamic finance industry in all its sectors and enhancing coordination to make the Islamic economy a key contributor to economic growth and likewise providing trainings and organizing programs aiming to expand the legal culture related to the Islamic markets.

His Excellency Musa Shihadeh said that the signing of the memorandum of understanding comes within the framework of keenness to create a constructive partnership that achieves the common strategic objectives, which aims to enhance a professional cooperation in the service of the Islamic financial industry and contributes to the development of capital markets according to the best practices and standards which is internationally approved in addition to strengthening the role of IICRA in the service of Islamic financial industry by urging investors to include Arbitration clause in their contracts and agreements, and as well as get benefit from other services of IICRA.