back Back

UAE and Mauritius sign MoU to enhance Central Bank co-operation

By Leandra Monteiro

March 16, 2022

  • Bank of Mauritius
  • Cbuae
  • Collaboration

CBUAE, UAE The Central Bank of the UAE (CBUAE) and the Bank of Mauritius (BoM) signed a Memorandum of Understanding (MoU) to enhance cooperation in key areas of central banking, and to share supervisory information.

The MoU covers four activities – co-operation on supervision, the exchange of supervisory information, developing aspects of financial issues of common concern, and co-operation on capacity building, training and technical assistance. The MoU was signed by His Excellency Khaled Mohamed Balama, Governor of the CBUAE, and His Excellency Harvesh Kumar Seegolam, Governor of the Bank of Mauritius.

Under this agreement, the CB UAE and BoM will exchange information during licensing processes, and ongoing supervision of banks and other financial institutions operating in both countries, in an effort to ensure effective cross-border supervision, while maintaining complete information confidentiality.

Both parties will also share experience on the stability and development of financial systems, the performance and development of payments systems, clearing and settlement systems, anti-money laundering and combatting the financing of terrorism and proliferation, cyber-security, and digital innovation in financial services. This includes digital currencies, FinTech regulation, private and digital banking, green finance, RegTech and SupTech, which will contribute to achieving the common interests of the two countries.

Commenting on the MoU signing, H.E. Khaled Mohamed Balama, Governor of the CBUAE, said, “We are keen to strengthen co-operation with our regional partners, including Bank of Mauritius, to achieve common goals in enhancing banking supervision, and exchanging the necessary information on other financial and banking fields to advance the interests of both parties to protect our financial systems.”

Previous Article

March 16, 2022

DTT Group launches DTTcoins Global Crypto Exchange

Read More
Next Article

March 16, 2022

Green Dot and Plaid partner to provide open finance solutions to GO2bank customers

Read More

IBSi Daily News Analysis

UK, Bank

July 12, 2024

Bank of Mauritius

Global securities lending revenue sees sharp 16% decline to $2.53bn in Q2 2024, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News


Nuvei and Mastercard team to enable crypto to fiat conversion

Read More


Payset and ClearBank partner for local and cross-border payments

Read More


Network International launches Business Payment Solutions with Mastercard

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
Wealth Management & Private Banking Systems Report Q2 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2024