On May 24, 2018, the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) entered into a memorandum of understanding (MoU) with the Astana Financial Service Authority of the Astana International Financial Centre (AFSA-AIFC) at a conference in Budapest, Hungary. By means of the agreement, the two authorities will focus on joint initiatives aimed at the development of the financial markets in both jurisdictions.