Bank Indonesia, CBUAE agree to expand joint cooperation

Abu Dhabi, The Gulf Observer: The Central Bank of the UAE (CBUAE) and Bank Indonesia (BI) exchanged of Memorandum of Understanding (MoU) aimed at expanding cooperation in several sectors between the two central banks.

The MoU was signed by Khaled Mohamed Balama, Governor of CBUAE, and Perry Warjiyo, Governor of BI. Under this MoU, an extension of the already established framework of cooperation, both parties commit to strengthening their relationship, enhancing information exchange, and collaborating across various areas. This includes aspects like monetary and macro-prudential policy, financial stability, payment systems, digital financial innovation, Islamic finance, technical capacity building, and the regulatory framework concerning Anti-Money Laundering and Countering the Financing of Terrorism.

Khaled Mohamed Balama, Governor of CBUAE, said, “The MoU with our Indonesian counterparts constitutes a strong basis for consolidating relations and strengthening the future partnership between both parties and contributes to opening the way for more joint regulatory cooperation to foster business opportunities in technology, innovation and digital. We are confident that through this cooperation, a favourable environment for business growth, trade and investment partnership, will be established and leads to sustainable growth in the two friendly countries.”