The Central Bank of the United Arab Emirates (CBUAE) has signed a Memorandum of Understanding (MoU) with the Central Bank of the Republic of Kosovo (CBK) to strengthen bilateral cooperation and enhance the exchange of information and expertise across areas of mutual interest.
His Excellency Khaled Mohamed Balama, Governor of the CBUAE, and His Excellency Dr. Ahmet Ismaili, Governor of the Central Bank of the Republic of Kosovo, signed the MoU 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 outlines several priority areas of cooperation, including financial consumer protection, financial inclusion and literacy, Islamic finance, banking supervision, oversight of payment systems, implementation of international prudential standards, and anti-money laundering and countering the financing of terrorism (AML/CFT), in accordance with the applicable laws and regulations of both parties.
HE Khaled Mohamed Balama Governor – CBUAE
“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.”
HE Dr. Ahmet Ismaili, Governor of the CBK, said that, “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.”
“Further, it reflects our commitment to expanding international cooperation with highly reputable partner institutions, strengthening our institutional capacities, and supporting the continued modernization of Kosovo’s financial sector in line with international standards and best practices,” Dr. Ismaili added.
