The Central Bank of the UAE (CBUAE) and Dubai Finance has signed a Memorandum of Understanding (MoU) aimed at strengthening bilateral ties and consolidating cooperation across all relevant areas, particularly the development of capital market in the country, leveraging the Central Bank’s advanced financial infrastructure.
The MoU was signed by Khaled Mohamed Balama, Governor of the CBUAE, and Abdulrahman Saleh Al Saleh, Director-General of Dubai Finance Department, in the presence of the assistant governors and senior officials from both entities. This MoU will enable Dubai Finance Department to utilize the Central Bank’s advanced financial infrastructure to issue dirham denominated government bonds and complementing efforts in developing the capital market in the country.
Both parties will continue to deepen bilateral cooperation in the areas of financial technology, payment systems, the development of a Central Bank digital currency platform, and support for innovative financial services to enhance financial inclusion in the country. Capacity-building will also be promoted through training programs and the exchange of expertise and experiences.
“This MoU represents an important step toward advancing the country’s financial markets, supporting their growth, and ensuring their readiness to adapt to future changes. In light of the rapid transformations in global financial markets, we are working under the vision and guidance of our wise leadership to promote innovation, accelerate the digitization of financial services and technology, and strengthen effective cooperation and partnerships with federal and local entities. These are key pillars for driving the growth of capital markets and the financial sector, enhancing the investment environment in the country, and contributing to the achievement of comprehensive and sustainable development goals.”
Abdulrahman Saleh Al Saleh, Director-General of Dubai’s Department of Finance, emphasized the importance of collaboration among financial regulatory bodies in the country to develop the financial services sector and reinforce the UAE’s position as one of the world’s leading financial hubs attractive to investments.
Al Saleh further stated that the MoU with Dubai Finance is a key step in strengthening ties with the Central Bank to diversify investment tools and develop capital markets in line with national vision. He added that the focus will be on sharing best practices, driving innovative financial solutions, and building national capabilities for a sustainable economic future.
