24 Hrs
Source:
Sky News
UAE and Morocco sign banking agreements
The Central Bank of the United Arab Emirates and Bank Al-Maghrib have signed two memoranda of understanding to strengthen banking cooperation, with the aim of developing banking oversight, Islamic finance, and linking payment systems and financial transactions between the two countries. The memoranda include the exchange of regulatory information, coordination of systems related to Islamic finance, development of instant payment platforms, and financial messaging systems to facilitate cross-border transactions. Additionally, the agreements explore the potential use of digital currencies and technological infrastructure to enhance the efficiency and speed of financial transactions between Morocco and the UAE.
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