Egypt’s central bank inks MoU with Tunisian counterpart to enhance banking cooperation

Ahram Online , Monday 30 Sep 2024

The Central Bank of Egypt (CBE) and the Central Bank of Tunisia have signed a memorandum of understanding (MoU) in the banking sector to enhance cooperation in areas of mutual interest, including the exchange of experiences in financial stability and monetary policy.

CBE

 

The agreement comes in light of the distinguished relations and historical ties between the two brotherly countries, the CBE said in a statement on Monday.

The MoU was signed by Hassan Abdalla, Governor of the Central Bank of Egypt, and Fathi Zohir Al-Nouri, Governor of the Central Bank of Tunisia, at the CBE headquarters.

“The MoU reflects the strong relationship between the Cbe and its Tunisian counterpart, aiming to advance the banking sector in both countries and support monetary and banking stability to achieve sustainable development through the exchange of expertise and experiences in common operational areas," said Abdalla.

For his part, Zohir Al-Nouri emphasized that this agreement embodies the depth of the historical and fraternal relations between the two peoples, marking a new step toward strengthening the common ties between our banking institutions and reflecting both banks’ shared commitment to developing the financial sector in our countries.

The MoU aims to exchange experiences and knowledge through workshops, training courses, and conferences, and meetings, focusing on a multitude of areas.

These include financial stability; regulatory developments; exchange rate policies; human resources; settlement systems; payment systems and services, financial inclusion, and cash and liquidity management.

They also include research; publishing, statistics; anti-money laundering and counter-terrorism financing; oversight of regulated entities; monetary policies and operations; digitization and updating information systems; as well as cybersecurity and management of banking operations for government and public institutions.

The CBE noted that the signing of this MoU is a positive step to support the cooperation between the two brotherly countries, especially in the field of banking development, particularly in light of international regulatory developments and the digitization of banking operations, in response to the rapid pace of technology use in related fields.

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