ABU DHABI, 2nd October, 2026 (WAM) — Khaled Mohamed Balama, Governor of the Central Bank of the United Arab Emirates (CBUAE), and Mohammad Safwat Abdel Hamid Raslan, Governor of the Central Bank of Syria, have signed a Memorandum of Understanding (MoU) to enhance bilateral relations and facilitate the exchange of expertise in various financial and supervisory areas of mutual interest.
The MoU provides a framework for bilateral cooperation, institutional capacity building, and the development of technical expertise, as well as for the exchange of information on regulatory frameworks. Areas of cooperation include payment systems, monetary policy, cash management, as well as innovative financial technologies.
The MoU also covers areas related to climate risk management and sustainable finance, financial inclusion and financial literacy and awareness, as well as credit information systems, reporting and risk management frameworks. It also provides for the exchange of expertise in the areas of licensing activities and institutions, regulatory enforcement, compliance, and consumer protection.
Khaled Mohamed Balama, Governor of the CBUAE, said, “The MoU reflects our shared interest to advancing cooperation in financial and regulatory areas, as part of efforts to support the resilience of the financial system, enhance the efficiency of the financial infrastructure, and keep pace with developments in the financial technology sector. It also represents an important milestone in the exchange of expertise and knowledge and in capacity building, drawing on best practices. We hope that this cooperation will create broader opportunities for financial institutions in both countries and enhance the role of the financial sector in supporting economic growth and development.”
Mohammad Safwat Raslan, Governor of the Central Bank of Syria, said, “The signing of the Memorandum of Understanding with the Central Bank of the United Arab Emirates represents an important step towards deepening banking cooperation between the two countries and opening broader avenues for joint work in the areas of banking supervision and regulation, payment and transfer systems, and the development of banking infrastructure. We attach particular importance to the opportunities provided by the Memorandum to advance financial inclusion, build institutional capacity, and strengthen regulatory and supervisory frameworks, thereby supporting the development of the banking sector and enhancing its ability to keep pace with regional and international banking requirements and practices. We look forward to the Memorandum serving as a foundation for practical and sustainable avenues of cooperation between the two central banks, contributing to more efficient banking services, supporting monetary and banking stability, and opening broader prospects for banking partnerships between Syria and the United Arab Emirates.”
Source: Emirates News Agency
