The Central Bank of the UAE has signed preliminary agreements with Jordan and Egypt's banking regulators to enhance financial and banking co-operation, after the recent industrial partnership between the three countries to boost sustainable growth.
The deals cover collaboration in the areas of financial supervision, FinTech and technical expertise, a statement said.
Governors from the three banking regulators signed the deals in Abu Dhabi on Tuesday and discussed ways to expand collaboration in the supervision of licensed financial institutions as well as technical assistance in the financial sector.
“We are keen to strengthen co-operation with our partners in Egypt and Jordan in the financial sector to achieve sustainable growth and prosperity for all of us, and promote investments, trade relations, economic partnership and to meet the mutual interests of the three countries," said Khaled Balama, governor of the CBUAE.
"The MoU with the Central Bank of Jordan, and the supplementary MoU with the Central Bank of Egypt constitute a framework for exploring opportunities for future co-operation with the two countries, building on the strong relationship between our financial systems and the economies of our countries."
The industrial partnership between the three countries has identified five sectors of mutual interest: petrochemicals; metal, minerals and downstream products; textiles; pharmaceuticals and agriculture; and food and fertiliser.
The new initiative will establish large joint industrial projects, create job opportunities, contribute to increasing economic output, diversify the economies of the three countries, support industrial production and increase exports.
A $10 billion investment fund has been allocated and will be managed by Abu Dhabi's holding company ADQ.
The preliminary agreement between the central banks of the UAE and Jordan covers co-operative mechanisms of supervision and the exchange of information, the statement said.
It also specifies joint collaboration in the areas of payment systems, FinTech, training and building professional capabilities, and sharing technical knowledge and experience.
“We seek through the MoU with the Central Bank of the UAE to create a comprehensive supervisory and monitoring framework on the financial and banking services in both countries," said Dr Adel Al-Sharkas, governor of the Central Bank of Jordan.
"This will enhance financial stability, efficiency and integrity requirements in the provision of financial and banking services, as part of digital transformation initiatives which facilitated intra-financial transactions.”
With Egypt, the UAE Central Bank signed a supplement to an earlier agreement made in 2021, which includes new articles related to the objectives and scope of co-operation and FinTech collaboration.
Under the deal, the two regulators will develop projects, initiatives and strategies to enhance competitiveness and digital transformation in the financial sector.
An additional article covers training and technical co-operation to enhance the professional skills of both parties’ staff, the statement said.
UAE currency: the story behind the money in your pockets
if you go
The flights
Air Astana flies direct from Dubai to Almaty from Dh2,440 per person return, and to Astana (via Almaty) from Dh2,930 return, both including taxes.
The hotels
Rooms at the Ritz-Carlton Almaty cost from Dh1,944 per night including taxes; and in Astana the new Ritz-Carlton Astana (www.marriott) costs from Dh1,325; alternatively, the new St Regis Astana costs from Dh1,458 per night including taxes.
When to visit
March-May and September-November
Visas
Citizens of many countries, including the UAE do not need a visa to enter Kazakhstan for up to 30 days. Contact the nearest Kazakhstan embassy or consulate.
Match info
Manchester United 1
Fred (18')
Wolves 1
Moutinho (53')
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Ticket prices
- Golden circle - Dh995
- Floor Standing - Dh495
- Lower Bowl Platinum - Dh95
- Lower Bowl premium - Dh795
- Lower Bowl Plus - Dh695
- Lower Bowl Standard- Dh595
- Upper Bowl Premium - Dh395
- Upper Bowl standard - Dh295
Babumoshai Bandookbaaz
Director: Kushan Nandy
Starring: Nawazuddin Siddiqui, Bidita Bag, Jatin Goswami
Three stars
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
Mohammed bin Zayed Majlis
COMPANY PROFILE
Name: Lamsa
Founder: Badr Ward
Launched: 2014
Employees: 60
Based: Abu Dhabi
Sector: EdTech
Funding to date: $15 million
PROVISIONAL FIXTURE LIST
Premier League
Wednesday, June 17 (Kick-offs uae times) Aston Villa v Sheffield United 9pm; Manchester City v Arsenal 11pm
Friday, June 19 Norwich v Southampton 9pm; Tottenham v Manchester United 11pm
Saturday, June 20 Watford v Leicester 3.30pm; Brighton v Arsenal 6pm; West Ham v Wolves 8.30pm; Bournemouth v Crystal Palace 10.45pm
Sunday, June 21 Newcastle v Sheffield United 2pm; Aston Villa v Chelsea 7.30pm; Everton v Liverpool 10pm
Monday, June 22 Manchester City v Burnley 11pm (Sky)
Tuesday, June 23 Southampton v Arsenal 9pm; Tottenham v West Ham 11.15pm
Wednesday, June 24 Manchester United v Sheffield United 9pm; Newcastle v Aston Villa 9pm; Norwich v Everton 9pm; Liverpool v Crystal Palace 11.15pm
Thursday, June 25 Burnley v Watford 9pm; Leicester v Brighton 9pm; Chelsea v Manchester City 11.15pm; Wolves v Bournemouth 11.15pm
Sunday June 28 Aston Villa vs Wolves 3pm; Watford vs Southampton 7.30pm
Monday June 29 Crystal Palace vs Burnley 11pm
Tuesday June 30 Brighton vs Manchester United 9pm; Sheffield United vs Tottenham 11.15pm
Wednesday July 1 Bournemouth vs Newcastle 9pm; Everton vs Leicester 9pm; West Ham vs Chelsea 11.15pm
Thursday July 2 Arsenal vs Norwich 9pm; Manchester City vs Liverpool 11.15pm
