The Central Bank and the Central Bank of Cuba sign an agreement to enhance joint cooperation

The Central Bank of the United Arab Emirates and the Central Bank of Cuba signed an agreement aimed at strengthening common ties and establishing a framework for developing bilateral relations and exchanging information and expertise in common fields.

The agreement includes enhancing bilateral cooperation through exchanging information on best practices related to the basic work of central banks, expanding the scope of dialogue and participation regarding laws and regulations related to digital currencies for central banks, payment systems and digital financial innovation, supervising payment systems and services in the markets of the two countries, and facilitating cooperation between The two sides through training, technical assistance, and the exchange of experiences and knowledge, including joint studies and research, in addition to the two parties encouraging commercial banks in the two countries to cooperate in banking.

His Excellency Khaled Mohammed Balama, Governor of the Central Bank, said, “The signed memorandum of understanding reflects the desire of the Central Bank of the Emirates and the Central Bank of Cuba to enhance bilateral cooperation and exchange experiences in the financial field, and to benefit from digital development and financial technology to develop payment services and systems to enhance joint relations and support the development of economic, trade and investment relations.” Between the two friendly countries, in line with the directives of the country’s wise leadership. We look forward to working closely with our counterparts in the Republic of Cuba, in order to expand the scope of cooperation relations in all fields.”