UAE and Morocco Sign Two MoUs to Strengthen Banking Cooperation

The Central Bank of the United Arab Emirates and Bank Al-Maghrib have signed two memoranda of understanding to deepen cooperation in banking supervision, Islamic finance and financial infrastructure.

The agreements aim to strengthen ties between the two central banks, with banking oversight among the key areas of cooperation.

Islamic finance is also covered by the memoranda, establishing a further focus for bilateral collaboration in the financial sector.

The agreements also seek to link payment systems and financial messaging networks, with the aim of improving the efficiency of cross-border financial transactions between the UAE and Morocco.