Finance Minister Moshe Kahlon and the head of the Federal Finance Department of Switzerland Or Maurer signed on Monday, September 4, a Memorandum of understanding, which aims to expand cooperation between the two countries in the field of financial services.
The meeting of Finance Ministers was held after preliminary meetings, the first of its kind, which was conducted by Deputy Finance Minister Yitzhak Cohen and the Secretary of state for international financial issues jörg Gasser. During the talks, chief economist of the Ministry of Finance and the acting responsible for the allocation of budgets Yoel Naveh presented a detailed report on the state of the Israeli economy.
The agreement provides for bilateral cooperation in the financial sector on a number of fronts, including the exchange of workers ‘ delegations, improving the cooperation within the framework of financial institutions, collaboration in organizations developing international standards in the field of financial services, improving collaboration in the field of regulation and control, and the like.
«Improving the relationship of Israel and Switzerland in the interests of both countries, — said the Finance Minister Moshe Kahlon. — The Swiss economy is one of the strongest in the world, and their interest in the Israeli economy and financial technology demonstrates that we can be proud of. Last month we held a very successful working visit to Washington, where I met with the U.S. Secretary of the Treasury Steven by Mucinum, and next week we travel to China where we also have a series of important meetings. We will deepen economic cooperation between Israel and other countries, based on the status of the Jewish state as one of the leading high-tech powers of the world.»
The agreement signed today strengthens the cooperation agreement Israel and Switzerland in the field of financial technologies, which was signed by the head of Department of securities, insurance, and savings programs at the Ministry of Finance (CMISA) Dorit Selinger and head of financial market Switzerland (FINMA). This agreement will allow Israeli and Swiss companies working in financial technology, get all the information about the principles of regulation and adapt your product to the market demands.