DUBAI - The United Arab Emirates' central bank and Bank Indonesia (BI) signed a a Memorandum of Understanding (MoU) to promote the use of local currencies for bilateral transactions, the UAE central bank said in a statement on Friday.

"The partnership between the UAE and Indonesia witnessed a remarkable growth in non-oil trade, doubling between 2017 and 2023 to reach more than AED 16 billion," it added.

(Reporting by Nayera Abdallah; Editing by Michael Georgy)