Egyptian, Tunisian Central Banks Sign Mou To Boost Banking Cooperation
Date
9/30/2024 3:04:25 PM
(MENAFN- Daily News Egypt) The Central bank of Egypt (CBE) and the Central Bank of Tunisia have signed a memorandum of understanding (MoU) to strengthen cooperation in the banking sector. The agreement focuses on mutual interests, particularly the exchange of expertise in financial stability and monetary policy.
The MoU was signed by Hassan Abdalla, Governor of the CBE, and Zohir Nouri, Governor of the Central Bank of Tunisia, at the CBE headquarters in Cairo, in the presence of senior officials from both banks.
Hassan Abdalla emphasized that the agreement reflects the close relationship between the two central banks and aims to bolster the banking sector in Egypt and Tunisia. He noted that the partnership would support monetary and financial stability, contributing to sustainable development through the exchange of expertise and shared experiences in areas of mutual interest.
Zohir Nouri echoed this sentiment, highlighting that the agreement symbolizes the deep historical and fraternal ties between the Egyptian and Tunisian peoples. He described the MoU as a new step toward strengthening shared bonds between their banking institutions and reaffirmed the mutual commitment to advancing the financial sector in both countries.
The MoU outlines plans to exchange experiences and knowledge through workshops, training programs, conferences, and technical cooperation. Key areas of collaboration include financial stability, regulatory developments, exchange rate policies, human resources, settlement systems, payment systems and services, financial inclusion, liquidity management, research, publishing, statistics, anti-money laundering and combating the financing of terrorism, supervision of institutions under the two central banks' oversight, monetary policies and operations, digitization, IT modernization, and cybersecurity, as well as managing banking operations for governments and public institutions.
This MoU marks a positive step in enhancing the cooperative ties between Egypt and Tunisia, especially in the banking development sector. It comes at a time of increasing global regulatory requirements and the rapid digitalization of banking operations, driven by the growing use of technology in related fields.
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