CBUAE Governor Khaled Mohamed Balama and Central Bank of Syria Governor Mohammad Safwat Raslan have signed a memorandum of understanding, the CBUAE said in a statement dated 2 October. It sets a framework for capacity building, technical expertise and the exchange of information on regulatory frameworks.
Named areas include payment systems, monetary policy, cash management and financial technology. The MoU also covers climate risk management and sustainable finance, financial inclusion and literacy, credit information systems and risk management frameworks, plus licensing, regulatory enforcement, compliance and consumer protection.
Balama said the agreement supports the resilience of the financial system. Raslan said it should help to strengthen Syria's supervisory frameworks and open wider prospects for banking partnerships between the two countries.
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