Indonesia and UAE Central Banks Expand MOU on Islamic Finance, Digital Innovation

Indonesia and UAE Central Banks Expand MOU on Islamic Finance, Digital Innovation

The Bank Indonesia (BI) and Central Bank of the United Arab Emirates (CBUAE) have signed a Memorandum of Understanding (MOU) to enhance collaboration in various central banking sectors, including Islamic

The post Indonesia and UAE Central Banks Expand MOU on Islamic Finance, Digital Innovation appeared first on Fintechnews Middle East.The Bank Indonesia (BI) and Central Bank of the United Arab Emirates (CBUAE) have signed a Memorandum of Understanding (MOU) to enhance collaboration in various central banking sectors, including Islamic finance.

This agreement, signed by BI Governor Perry Warjiyo and CBUAE Governor Khaled Mohamed Balama, builds on a 2021 pact focusing on payment systems and digital financial innovation.

The MOU aims to deepen ties and facilitate the exchange of information in areas like monetary policies, macro-prudential regulation, financial stability, anti-money laundering, and counter-terrorism financing. It also extends to digital financial innovations and Islamic economic finance.

The commitment follows a meeting between Indonesian President Joko Widodo and UAE President Sheikh Mohamed bin Zayed Al Nahyan during COP 28 in Dubai.

Perry Warjiyo

Governor Warjiyo highlighted the MOU’s significance in reinforcing BI and CBUAE’s relationship, contributing to economic stability and compliance with Financial Action Task Force guidelines.

He added that this relationship will lead to mutually beneficial achievements for both central