The Central Bank of the UAE (CBUAE) and the Central Bank of Syria have signed a memorandum of understanding covering financial and technical cooperation, including payment systems and financial technology.
The agreement also covers monetary policy, cash management, climate risk management, sustainable finance, financial inclusion and financial literacy. It establishes a framework for sharing expertise and information on regulation, as well as for capacity building.
The two central banks will also cooperate on credit information systems, reporting and risk management frameworks. The supervisory scope includes licensing, regulatory enforcement, compliance and consumer protection.
CBUAE Governor Khaled Mohamed Balama said the cooperation could create broader opportunities for financial institutions in both countries and strengthen the financial sector’s contribution to economic growth.
Central Bank of Syria Governor Mohammad Safwat Abdel Hamid Raslan said the agreement would support financial inclusion, institutional capacity and stronger regulatory and supervisory frameworks.
Source: Fintech News UAE
