Luxembourg and Toronto sign MoU
Luxembourg for Finance and the Toronto Financial Services Alliance (TFSA) have signed an agreement to create a framework for partnership to develop their respective financial services industries.
Signed by Luxembourg for Finance’s CEO, Nicolas Mackel and TFSA's president and CEO Janet Ecker, the memorandum of understanding covers exchange of research and information on banking, financial service and regulation.
The two jurisdictions will also exchange information about relevant international financial services activities and products including Islamic finance, financial technology and development as a renminbi trading hub.
The partnership may also organise training courses and seminars, as well as facilitating contacts for market operators, university institutions, and financial delegations. Future staff exchanges may also be explored.
In April 2015, a financial delegation headed by HE Pierre Gramegna, Luxembourg Minister of Finance, travelled to Toronto to promote closer collaboration between Luxembourg and Canada within financial services.
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