CBUAE, Dubai Finance sign MoU to develop UAE's capital markets

The Central Bank of the UAE (CBUAE) and Dubai Finance signed a Memorandum of Understanding (MoU) aimed at strengthening bilateral ties and consolidating cooperation across all relevant areas, particularly the development of capital market in the country, leveraging the Central Bank's advanced financial infrastructure.

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The MoU was signed by Khaled Mohamed Balama, Governor of the CBUAE, and Abdulrahman Saleh Al Saleh, Director-General of Dubai Finance Department, in the presence of the assistant governors and senior officials from both entities.

This MoU will enable Dubai Finance Department to utilise the Central Bank's advanced financial infrastructure to issue dirham denominated government bonds and complementing efforts in developing the capital market in the country.

Both parties will continue to deepen bilateral cooperation in the areas of financial technology, payment systems, the development of a Central Bank digital currency platform, and support for innovative financial services to enhance financial inclusion in the country. Capacity-building will also be promoted through training programs and the exchange of expertise and experiences.

Khaled Mohamed Balama stated, Governor of the CBUAE, said that this MoU represents an important step toward advancing the country's financial markets, supporting their growth, and ensuring their readiness to adapt to future changes."