At present, the Central Financial institution of the United Arab Emirates and the Central Financial institution of Egypt signed a bilateral settlement to alternate the UAE dirham and the Egyptian pound.
The settlement was signed by His Excellency Khaled Mohammed Balama, Governor of the Central Financial institution of the Emirates, and His Excellency Hassan Abdullah, Governor of the Central Financial institution of Egypt.
The settlement permits the 2 sides to alternate native currencies with a face worth of as much as 5 billion UAE dirhams and 42 billion Egyptian kilos.
His Excellency Khaled Mohammed Al-Amaa, Governor of the UAE Central Financial institution, mentioned: “The foreign money alternate settlement between the 2 nations displays the depth and power of bilateral relations between the UAE and the Arab Republic of Egypt, and represents an vital alternative to develop the financial and monetary markets between the 2 sides based mostly on the willingness of the clever management of the 2 brotherly nations to help bilateral relations. monetary sectors and rising monetary stability.”
In flip, His Excellency Hassan Abdullah, Governor of the Central Financial institution of Egypt, mentioned: “Within the context of the continued cooperation between the sister state of the United Arab Emirates and the Arab Republic of Egypt, and in help of the ties of cooperation, The Central Financial institution of Egypt the United Arab Emirates and the Central Financial institution of Egypt have signed an area foreign money swap settlement between the 2 nations. It’s thought of a course of: “Barter is the cornerstone of supporting monetary cooperation between the 2 nations in native currencies.”
