UAE and Syria Central Banks Sign Financial Cooperation MoU

The Central Bank of the UAE (CBUAE) and the Central Bank of Syria have signed a Memorandum of Understanding (MoU) to strengthen bilateral financial cooperation and exchange expertise across regulatory and supervisory areas.

CBUAE Governor Khaled Mohamed Balama and Central Bank of Syria Governor Mohammad Safwat Abdel Hamid Raslan signed the agreement, which establishes a framework for institutional capacity building, technical expertise and information exchange on regulatory frameworks.

MoU Covers Banking and Fintech

The agreement covers payment systems, monetary policy, cash management and financial technologies. It also includes cooperation on climate risk management, sustainable finance, financial inclusion, financial literacy and credit information systems.

The two central banks will also exchange expertise in licensing, regulatory enforcement, compliance, consumer protection and risk management frameworks.

Focus on Financial Infrastructure

Balama said the agreement aims to strengthen the financial system’s resilience, improve financial infrastructure, and support developments in financial technology.

Raslan said the MoU will support cooperation in banking supervision, regulation, payment and transfer systems and banking infrastructure. He also highlighted financial inclusion, institutional capacity building and stronger regulatory frameworks as areas of focus.

The agreement is intended to establish practical cooperation between the two central banks while supporting more efficient banking services and financial-sector development.