UAE and Israel inks MoU to boost bilateral investments

By Backend Office, Desk Reporter
UAE Israel MoU Image
UAE and Israel signed the MoU to encourage bilateral investments

With an aim to promote investment between the two countries, the UAE and Israel have agreed to form a joint committee for financial services cooperation.

The MoU (Memorandum of Understanding) was signed by the Governor of the UAE Central Bank, Abdulhamid Saeed and the Director-General of the Israeli Prime Minister’s Office, Ronan Peretz for future Cooperation in Banking and Finance.

The two countries came to an agreement to form working groups and bilateral committees which will facilitate banking between them.

The MoU was signed in the presence of Head of the Israeli National Security Council and National Security Adviser, Mayor Ben-Shabbat.

Israeli Prime Minister Benjamin Netanyahu said, “The main objective of the MoU is to co-operate in the financial services sector, remove financial barriers to investment between countries and promote joint investment in capital markets.”

Further, the Abu Dhabi Investment Office and Invest in Israel, which is a part of its Ministry of Economy, have agreed on bilateral investment cooperation, reports the Abu Dhabi Media Office (ADIO).

It said a first gathering was held “which established the framework to identify commonly advantageous areas for collaboration” that would concentrate on opportunities in technology and innovation.

ADIO, which enables companies to set up and grow in Abu Dhabi, aims to ensure that Israeli companies have access to emirate’s thriving business environment,” the statement said.