ABU DHABI, June 7, 2022 (WAM)-UAE Central Bank (CBUAE) Governor Khaled Mohamed Balama met today with Egyptian Central Bank Governor Tarek Hassan Amer and Dr. Adel Ahmad Al-. Sharkas in the presence of the Jordanian Central Bank Governor of Abu Dhabi and senior officials of the three Central Banks.

The conference reflects the vision of each country’s leadership in strengthening economic partnerships for sustainable development, following the announcement of industrial partnerships for sustainable economic growth among the three countries in late May. .. The meeting touched on how to develop cooperation in the financial sector.

Central bank governors have the opportunity to expand collaboration in the supervision of licensed financial institutions, exchange information and expertise benefiting from joint experience in the fintech sector, and develop payment systems and technical skills for professional executives. , And the financial sector.

The governor said their industrial partnerships reflect a new step in strengthening fiscal relations and help achieve sustainable economic growth in the three countries. They confirmed their commitment to deepen cooperation in the financial sector to make this partnership a success and achieve its objectives.

At the end of the meeting, Barama and Dr. Al Shakas signed a Memorandum of Understanding (MoU) to strengthen financial and banking cooperation.

The MoU covers the cooperative mechanism of oversight, the exchange of information to facilitate oversight and oversight obligations, and its role in ensuring financial stability. It also provides for collaborative collaboration in the areas of payment systems, fintech, professional training and building, and the exchange of skills and experience.

Barama also signed a memorandum of understanding with the Central Bank of Egypt Governor to supplement the previous agreement signed in 2021. It consists of new articles related to the purpose and scope of cooperation and FinTech cooperation, including project development. Initiatives such as a common “sandbox” and the development of strategies to enhance competitiveness and digital transformation in the financial sector. Additional articles describe training and technical cooperation to strengthen the professional skills of the staff of both parties.

CBUAE Governor Khaled Mohamed Balama commented on the meeting, “We are working with Egyptian and Jordanian partners in the financial sector to achieve sustainable growth and prosperity for all of us and promote investment. Dedicated to strengthening, to meet trade relations, economic partnerships, and mutual interests of the three countries.

“The MoU with the Central Bank of Jordan and the Supplemental MoU with the Central Bank of Egypt form a framework for exploring future opportunities for cooperation between the two countries, based on their strong relationship with the financial system and economy. “Countries,” he added.

Dr. Adel Ahmad al-Shakas, Governor of the Central Bank of Jordan, said, “Through a memorandum of understanding with the UAE Central Bank, we aim to establish a comprehensive oversight and oversight framework for financial and banking services in both countries. As part of the Digital Transformation Initiative to Facilitate Intra-Financial Transactions, we will strengthen the requirements for financial stability, efficiency and completeness in the provision of financial and banking services. ”

The Governor said, “We will work with UAE’s Central Bank to further adopt financial technology in the provision of financial and banking services, to respond to market development and to provide a common environment for embracing creative ideas. I’m looking forward to it. The talent of modern financial technology. ”

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