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Jordan, UAE central banks agree on closer ties in finance, banking

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(Photo: Jordan News Agency)

AMMAN — Governors of the central banks in Jordan and the UAE agreed Tuesday to strengthen relations in finance and banking, the Jordan news Agency, Petra, reported.اضافة اعلان

It said Adel Al-Sharkas, governor of the Central Bank of Jordan, and his UAE counterpart, Khaled Balama signed a memorandum of understanding, setting the stage for closer cooperation in banking and finance sectors.

The agreement lays out mechanisms for cooperation and exchanging information to facilitate the performance of both banks’ supervisory and control duties and their role in ensuring financial stability, Petra said.

It said the memorandum also stipulates closer cooperation on payment systems, financial technology and training, capacity-building and upgrading of professional skills, as well as exchanging technical assistance and expertise.

Sharkas stressed the importance of the agreement in enhancing efficiency and safety requirements in providing financial and banking services within digital transformation initiatives. He highlighted its impact on facilitating Inter-financial transactions in both countries.

“Under the scope of joint cooperation with the Central Bank of the UAE, we look forward to increasing opportunities to switch to financial technology in providing financial and banking services and looking into means of providing common grounds for embracing innovative ideas and sponsoring talents in the field of modern financial technology,” Sharkas noted.

Balama asserted the importance of close cooperation in finance and banking to achieve sustainable development, progress and prosperity in the two countries and advance investments, trade relations and the bilateral economic partnership.

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