Abu dhabi: Khaled Mohamed Balama, Governor of the Central Bank of the UAE (CBUAE), and Dr. Ahmet Ismaili, Governor of the Central Bank of the Republic of Kosovo (CBK), signed a Memorandum of Understanding (MoU) aimed at strengthening bilateral relations and facilitating the exchange of information and expertise in areas of mutual interest. The signing took place at the CBUAE headquarters in Abu Dhabi.
According to Emirates News Agency, the MoU aims to enhance coordination across supervisory and regulatory areas and includes the exchange of expertise on financial technology development, monetary policy, macroprudential measures, and financial stability. Both parties are committed to working together to address these critical areas.
The MoU also addresses several priority areas, including financial consumer protection, financial inclusion and literacy, Islamic finance, banking supervision, and the oversight of payment systems. Additionally, it covers the implementation of international prudential standards and measures to combat money laundering and the financing of terrorism (AML/CFT), adhering to the applicable laws and regulations of both parties.
Khaled Mohamed Balama commented on the signing, emphasizing the need for stronger institutional cooperation between central banks and supervisory authorities due to rapid transformations in the global financial sector. He highlighted the importance of exchanging insights and best practices to enhance the financial sector's readiness and ability to adapt to change, in alignment with the leadership's vision and the mutual interests of the two countries.
Dr. Ahmet Ismaili expressed that this first MoU with the Central Bank of the UAE is a historic milestone for the Central Bank of the Republic of Kosovo. He noted that it reflects their commitment to expanding international cooperation with reputable partner institutions, strengthening institutional capacities, and supporting the modernization of Kosovo's financial sector in line with international standards and best practices.