13 August 2022 06:16 AM

Egypt, UAE, Jordan discuss enhancing financial, banking cooperation

Tuesday، 07 June 2022 - 10:15 PM

Governor of the Central Bank of Egypt (CBE) Tarek Amer on Tuesday 7/6/2022 discussed in a meeting with his Emirati and Jordanian counterparts means of enhancing financial and banking cooperation, especially with regard to supervising licensed financial institutions and exchanging information.

During their meeting in Abu Dhabi, the three governors probed how to benefit from joint experience in the Fintech sector, develop payment systems and enhance technical skills for specialized cadres, in addition to providing technical assistance in the financial sector.
The meeting follows the signing of the Integrated Industrial Partnership for Sustainable Economic Development document by the three countries in late May.
The governors stressed that the industrial partnership would contribute to elevating financial relations to broader horizons and achieving sustainable economic growth in the three countries.
They confirmed their commitment to deepening cooperation in the financial sector to render this partnership a success.
At the end of the meeting, Khaled Mohamed Balama, the Governor of the Central Bank of the UAE and Tarek Amer signed a supplement to an earlier agreement signed in 2021.
The supplement includes adding a new article related to the scope of cooperation and a second article on the establishment of the FinTech Regulatory Sandbox and the development of strategies to enhance competitiveness and digital transformation in the financial sector, as well as a third article on training and technical cooperation to upgrade professional skills.
The governor of the Central Bank of the UAE and Adel Ahmed Al Sharkas, the Governor of the Central Bank of Jordan, signed a Memorandum of Understanding (MoU) to enhance financial and banking co-operation.
The MoU covers cooperative mechanisms of supervision, information exchange to facilitate their monitoring and supervision mandates and their role in ensuring financial stability.
It also specifies joint collaboration in areas of payment systems, Fintech, training and building professional capabilities and technical and experience exchange.


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