ABU DHABI - Khaled Mohamed Balama, Governor of the Central Bank of the UAE (CBUAE), met with Shaktikanta Das, Governor of the Reserve Bank of India, and discussed the ways to further improve bilateral relations in areas related to the financial sector and exchange experiences in products and services innovation to serve the mutual interests of both parties and strengthen the comprehensive economic partnership between the two countries.

During the meeting held at the CBUAE headquarters in Abu Dhabi, the two sides discussed aspects of collaboration in the payment sector through linking their instant payment platforms to facilitate cross-border payments between the two countries.

They also explored ways to benefit and exchange experience in launching their national card payment schemes and developing Fintech solutions to enhance innovation in both countries’ financial sectors.

The two parties agreed to sign a Memorandum of Understanding (MoU) by the end of February 2023, which will define the framework for cooperation in areas of Fintech, and for experimenting central bank digital currency to facilitate cross-border transactions.