Minsk, July 22, 2016: Financial Commission, operated by FinaCom Plc, and catering to the financial services industry as an external dispute resolution (EDR) organization, today announces the signing of a Memorandum of Understanding (MoU) with the Association of Financial Market Development (ARFIN).

The MoU provides a basis to develop favourable conditions to support the Foreign Exchange market for ARFIN members and was signed during a meeting between Financial Commission Chairman, Peter Tatarnikov, ARFIN Chairman, Alexey Sidorov and representatives of the National Bank of the Republic of Belarus.

The MoU will enable cooperation to improve the dispute resolution process in Belarus, and the exchange of information between both organizations.

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v vvv ARFIN, a non-profit organization with voluntary membership structure, together   with Financial Commission,  will cooperate to improve the field of dispute resolution, by consolidating and creating a streamlined approach, as part of the   MoU.

Financial Commission Chairman, Peter

Tatarnikov and  ARFIN Chairman, Alexey Sidorov

 

Before the MoU was signed during the meeting, mutual channels of cooperation were discussed and explored, including how the proposed framework would best suit all parties involved including underlying market participants.

The National Bank of the Republic of Belarus has been active in implementing new decrees and related rules with regard to forex companies,  and which are support by ARFIN in the region.

In addition, the framework of the MoU will enable both parties to adjust the type of information exchanged and conduct mutual consultations on industry issues that will be carried out together.

More information about ARFIN and its membership structure, including contact information is available on arfin.by which is the organization’s website.

The MoU reflects Financial Commission’s ability to collaborate with national and independent industry associations, such as ARFIN, in order provide value through such synergies within the financial services industry internationally.

To learn more this MoU and about Financial Commission, please contact us or visit FinancialCommission.org.