The Governor of the Central Bank, Khaled Mohamed Balma, the Governor of the National Bank of Kazakhstan, Timur Selamov, and the head of the Kazakhstan Authority for the regulation and development of the financial market, signed Medina Abelkassimova, a memorandum of understanding, aimed at enhancing cooperation, and establishing a framework for consolidating relations and exchanging information and experiences in the common fields.
A statement, issued yesterday, stated that the three parties will work according to the memo to exchange information and experiences on best practices and systems to develop local financial markets, financial technology, enhance digital currencies for central banks, and enable their use in cross -border transactions between the two countries.
The memo also includes the participation of supervisory information, and the facilitation of cooperation in the fields of Islamic banking, Islamic finance, and cybersecurity, in addition to cooperation in the technical and technical fields.
He said, “The memo embodies the depth and durability of the economic partnership between the UAE and Kazakhstan, and supports the eagerness of the two countries to consolidate relations in the commercial, investment and financial fields,” noting that the proactive approach to the central bank contributes to expanding the scope of cooperation with regional and international partners, and deepening joint business opportunities in the financial and banking sector to support economic, commercial and investment prospects in the UAE.
He expressed his aspiration to work closely with the partners in Kazakhstan in order to enhance financial stability, develop the financial system, and achieve the common interests of the two friendly countries.
For his part, Celemenov said that cooperation between the Emirates Central Bank and the National Bank of Kazakhstan supports joint efforts to deepen the economic partnership relations between the two countries, and to consolidate the prospects for bilateral cooperation in the financial and banking fields and digital currencies of central banks, leading to the advancement of the sustainable development process.
He added that the National Bank of Kazakhstan will continue to work with the Emirates Central Bank to achieve common goals, by taking advantage of the wealthy experiences and experiences in financial technology and payment systems to contribute to the prosperity of the economies of the two countries.
In turn, Abelkassimova praised the laws and legislations for financial markets in the UAE, noting the exchange of experiences and experiences in developing financial services according to international levels, and strengthening the process of organizing financial markets, in a way that contributes to deepening the scope of economic and trade cooperation between the two countries.
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