"Central Bank" and"Mercury" They launch a project to enhance the financial market infrastructure
Abu Dhabi, July 24 / WAM / The United Arab Emirates Central Bank and Mercury announced the launch of a joint venture to establish a company in the name of “Unit for Business Services”, aiming to support the financial infrastructure transformation program launched by the Central Bank. This project contributes, according to a press release issued by the Central, today, in enhancing the efficiency of infrastructure operations for national financial markets, in line with the highest international standards and practices in terms of efficiency, flexibility and business continuity of regulations and platforms of the central bank.
Through the alignment of the strategic vision of the central bank with the experience of “Mercury” in the field of technology and infrastructure services, the project embodies a strong model for the public and private partnerships, and confirms the central bank’s commitment to preserving national sovereignty over biological financial systems.
The launch of the project was officially announced during a signing ceremony witnessed by His Excellency Khaled Mohamed Balama, Governor of the Central Bank, Muzaffar Khalafar, Chairman of the Board of Directors of “Mercury”, and His Excellency Saif Hamid Al Dhaheri, Assistant Governor of the Central Bank for Banking Operations and Support Services. The agreement was signed by His Excellency Ibrahim Obaid Al -Zaabi, Assistant Governor of the Monetary Policy and Financial Stability Sector, and Muzaffar Hamed, CEO of Mercury. Financial at the state level, and through our partnership with “Mercury”, we will be able to employ best practices and international experiences in a way that supports the digital transformation of the financial system in the UAE.
For his part, Muzaffar Hamed, CEO of Mercury, said: We are proud of our partnership with the Emirates Central Bank in this strategic project, which plays a pivotal role in achieving the vision of the financial infrastructure transformation program of the central bank, and embodies our joint commitment to building a safe, comprehensive, and comprehensive infrastructure.
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