The Central Bank of the United Arab Emirates (CBUAE) and the Hong Kong Monetary Authority (HKMA) have reaffirmed their commitment to advancing cross-border financial integration and regulatory cooperation during their third high-level meeting held in Abu Dhabi.
The meeting was chaired by Khaled Mohamed Balama, Governor of the CBUAE, and Eddie Yue, Chief Executive of the HKMA, with the participation of Assistant Governors and senior officials from both institutions.
Expanding areas of financial cooperation
Building on progress achieved during their second meeting in Hong Kong in December 2024, the two authorities engaged in comprehensive discussions across several priority areas.
Key topics included cross-border debt capital market connectivity, advancements in digital assets and tokenization, central bank digital currency (CBDC) developments, regulatory frameworks for stablecoins, and supply chain financing.
The discussions reinforced a joint objective to promote sustainable financial sector development while strengthening institutional coordination at both strategic and technical levels.
CBUAE joins Hong Kong’s CMU
The CBUAE has formally joined the Central Moneymarkets Unit (CMU), Hong Kong’s core central securities depository for debt securities. The move follows the Memorandum of Understanding (MoU) signed during the previous meeting to establish connectivity in debt capital markets and related financial infrastructure.
The membership provides the CBUAE and investors in the UAE with direct and cost-effective access to Chinese Mainland’s capital markets and financial assets through Hong Kong’s well-established financial architecture. The development marks a substantial step toward advancing bilateral market connectivity and deepening financial integration between the UAE and Asia.
HE Khaled Mohamed Balama Governor CBUAE
“Our collaboration with the Hong Kong Monetary Authority reflects a shared commitment to strengthening cross‑border financial market connectivity and international partnership. The CBUAE’s membership in the Central Moneymarkets Unit enables access to the Asian capital market and deeper engagement with other global financial centers, which supports diversifying investment opportunities for market participants in the United Arab Emirates and reinforces the country’s role as a leading international capital market hub. We value this partnership and look forward to continued cooperation that contributes to more resilient and better‑connected financial markets.”
Eddie Yue remarked that, “I am pleased to see the progress achieved to date in concretizing our debt capital market connectivity and delighted to welcome the CBUAE as a member of the CMU. This underscores Hong Kong’s position as a leading offshore Renminbi business hub and a premier gateway for international investors to tap into the broader China and Asia markets.”
Yue added that the deepening cooperation between the two central banks reflects a clear and forward-looking vision focused on mutual growth, innovation, and enhanced financial market integration.
