UAE Central Bank and Kosovo Central Bank Sign MoU to Strengthen Financial Cooperation
Under the MoU, both parties will enhance coordination across supervisory and regulatory areas and exchange expertise on financial technology development, monetary policy, macroprudential measures and financial stability.
His Excellency Khaled Mohamed Balama, Governor of the Central Bank of the UAE (CBUAE), and His Excellency Dr. Ahmet Ismaili, Governor of the Central Bank of the Republic of Kosovo (CBK ), signed a Memorandum of Understanding (MoU) aimed at strengthening bilateral relations and facilitating the exchange of information and expertise in areas of mutual interest. The signing took place at the CBUAE headquarters in Abu Dhabi.
Under the MoU, both parties will enhance coordination across supervisory and regulatory areas and exchange expertise on financial technology development, monetary policy, macroprudential measures and financial stability.
The MoU also covers a number of priority areas, including financial consumer protection, financial inclusion and financial literacy, Islamic finance, banking supervision, supervision and oversight of payment systems, the implementation of international prudential standards, as well as anti-money laundering and combating the financing of terrorism (AML/CFT), in line with the applicable laws and regulations of the two parties.
“This MoU with the Central Bank of the Republic of Kosovo comes at a time of rapid transformation across the global financial sector, requiring stronger institutional channels of cooperation between central banks and supervisory authorities. Through this MoU, we aim to exchange insights and best practices that enhance the financial sector’s readiness and ability to keep pace with change, in support of our wise leadership’s vision and the mutual interests of the two countries.”
– H.E. Khaled Mohamed Balama, Governor, CBUAE
“This first Memorandum of Understanding with the Central Bank of the United Arab Emirates is a historic milestone for the Central Bank of the Republic of Kosovo. It reflects our commitment to expanding international cooperation with highly reputable partner institutions, strengthening our institutional capacities, and supporting the continued modernisation of Kosovo’s financial sector in line with international standards and best practices.”
– H.E. Dr. Ahmet Ismaili, Governor, CBK
