UAE & Syria Central Banks Sign Financial Cooperation Agreement
The agreement covers payment systems, fintech, monetary policy, financial inclusion, regulation and consumer protection.
The Central Bank of the UAE and the Central Bank of Syria signed a memorandum of understanding in Abu Dhabi on October 2nd to expand cooperation across payment systems, financial technology and banking regulation.
The agreement establishes a framework for bilateral cooperation, capacity building and information exchange. Areas covered include payment systems, monetary policy, cash management, fintech, climate risk management, sustainable finance, financial inclusion, credit information systems and risk reporting.
The two central banks will also exchange expertise on licensing, regulatory enforcement, compliance, banking supervision and consumer protection. UAE Central Bank Governor Khaled Mohamed Balama said the agreement is intended to strengthen financial infrastructure and support knowledge-sharing, while Syrian Central Bank Governor Mohammad Safwat Raslan said it would help develop banking supervision, payment systems and institutional capacity.
The memorandum also aims to create broader opportunities for cooperation between financial institutions in both countries and support the development of more efficient banking services and financial infrastructure.
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