Central banks of Azerbaijan and UAE ink memo

A Memorandum of Understanding has been signed between the central banks of Azerbaijan and the United Arab Emirates (UAE), Report informs, citing the Azerbaijani side.

"We had a productive meeting with H.E. Khaled Mohamed Balama, Governor of the Central Bank of the UAE in Abu Dhabi. During the meeting, we exchanged views on the current state of economic relations between our countries, as well as the status and prospects of cooperation between two central banks. We signed a Memorandum of Understanding to further deepen the relationship based on mutual trust and a beneficial partnership of the institutions we lead," Governor of the Cenetral Bank of Azerbaijan Taleh Kazimov wrote on X.

The memorandum envisages that mutual exchange of information will be carried out in the areas of supervision, regulation, and licensing practices in the financial sector, mutual visits will be organized related to systems connected to financial infrastructure, and technical cooperation will be enhanced through joint exchange of experience and knowledge, including business visits.