The Central Bank and Dubai Finance sign a masculine understanding of the development of the capital market in the country

Abu Dhabi, September 29/ WAM/ The UAE Central Bank and the Finance Department of the Dubai Government signed a memorandum of understanding aimed at strengthening common ties and consolidating joint cooperation in all related areas, especially the development of the capital market in the country, using the developed financial infrastructure of the bank.
The memo was signed by His Excellency Khaled Mohamed Balami, Governor of the Central Bank, His Excellency Abdul Rahman Saleh Al Saleh, Director General of Dubai Finance, in the presence of the governor’s assistants and a number of officials of both sides.
This memorandum enables Dubai’s finances to use the advanced financial infrastructure of the Central Bank to issue government bonds denominated by dirhams, and to complete efforts to develop the capital market in the country.
The two parties will deepen the prospects for bilateral cooperation in the fields of financial technology, payment systems, develop the digital currency platform for central banks, support innovative financial services to enhance financial inclusion in the country, and to build capacity through training programs and exchange of experiences and experiences.
His Excellency Khaled Mohamed said that this memorandum represents an important step to upgrade financial markets in the country, support its growth, and ensure its readiness and keeping pace with the changes of the future.
He added that, in light of the rapid transformations taking place in the global financial markets, we work according to the vision and directives of the rational leadership to enhance innovation and accelerate the digitization of the services and financial technology sector, consolidate cooperation and active partnerships with the federal and local bodies, as it is basic pillars to advance the growth of capital markets and the financial sector, and raise the efficiency of the investment environment in the country, in a way that contributes to achieving comprehensive development goals and aspirations And sustainable.
For his part, His Excellency Abdul Rahman Saleh Al Saleh stressed the importance of cooperation between the financial regulatory authorities in the country to develop the financial services sector and consolidate the state’s position as one of the most important international financial centers that attract investments.
He said that the Memorandum of Understanding is a fundamental step in strengthening our strategic partnership with the central bank to diversify investment tools and develop capital markets, in line with the vision of good leadership.
He added: “We are keen to exchange best practices, develop innovative solutions that keep pace with global developments in the financial markets and the financial services sector, and enhance the national capabilities of a sustainable economic future.”

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