Latest news with #SaifAlDhaheri
Zawya
19-06-2025
- Business
- Zawya
CBUAE signs MoU with CIPS to enhance cooperation in cross-border payments between the UAE and China
Abu Dhabi: The Central Bank of the UAE (CBUAE) and CIPS Co., Ltd. (CIPS), the operating institution of the Cross-Border Interbank Payment System of China, signed a Memorandum of Understanding (MoU) aiming at strengthening joint cooperation in the payment infrastructure landscape towards improving the efficiency of cross-border payments between the UAE and China. The MoU was signed by H.E. Saif Al Dhaheri, Assistant Governor for Banking Operations and Support Services at CBUAE and Mr. Xiangyang WU, Vice President of CIPS in the presence of senior officials from both entities. As part of the MoU, the two parties will collaborate on designing and developing initiatives that foster the more seamless, streamlined, and cost-effective use of their payment infrastructures for cross-border transactions between the two countries. Furthermore, the parties will work to develop and strengthen their cooperation in risk and compliance, and share expertise to improve the security, safety, soundness, and stability of cross-border payment infrastructures." H.E. Saif Al Dhaheri, Assistant Governor for Banking Operations and Support Services at CBUAE, said: "This MoU underpins both countries' efforts to cultivate strategic partnerships and reinforce our commitment to strengthening financial, trade, and investment cooperation, in line with the vision of the wise leadership. We look forward to keeping pace with developments in the global payments landscape and leveraging technology and innovation to stimulate economic and trade growth, develop the financial services sector in both countries, create innovative financial solutions for cross-border payments settlement, and facilitate transactions and reduce costs. This will contribute to enhancing the promising prospects for sustainable development and achieving the mutual interests of the two countries." Mr. Xiangyang WU, Vice President of CIPS, said: "Our cooperation with the Central Bank of the UAE will provide ample opportunities to strengthen relations between the two countries across the economic, trade, investment, financial, and banking sectors. This MoU reflects our shared desire to strengthen cooperation, exchange expertise, and leverage digital advancements to streamline the processing and settlement of cross-border financial payments more smoothly and efficiently between the two countries, and enable stakeholders to easily access payment services. This will facilitate the achievement of our common goals and support the continued prosperity of both our economies."
Zawya
19-06-2025
- Business
- Zawya
CBUAE, CIPS sign MoU to enhance cooperation in cross-border payments between UAE, China
The Central Bank of the UAE (CBUAE) and CIPS Co., Ltd. (CIPS), the operating institution of the Cross-Border Interbank Payment System of China, signed a Memorandum of Understanding (MoU) aiming at strengthening joint cooperation in the payment infrastructure landscape towards improving the efficiency of cross-border payments between the UAE and China. The MoU was signed by Saif Al Dhaheri, Assistant Governor for Banking Operations and Support Services at CBUAE and Xiangyang WU, Vice President of CIPS in the presence of senior officials from both entities. As part of the MoU, the two parties will collaborate on designing and developing initiatives that foster the more seamless, streamlined, and cost-effective use of their payment infrastructures for cross-border transactions between the two countries. Furthermore, the parties will work to develop and strengthen their cooperation in risk and compliance, and share expertise to improve the security, safety, soundness, and stability of cross-border payment infrastructures. Saif Al Dhaheri, Assistant Governor for Banking Operations and Support Services at CBUAE, said, "This MoU underpins both countries' efforts to cultivate strategic partnerships and reinforce our commitment to strengthening financial, trade, and investment cooperation, in line with the vision of the wise leadership. We look forward to keeping pace with developments in the global payments landscape and leveraging technology and innovation to stimulate economic and trade growth, develop the financial services sector in both countries, create innovative financial solutions for cross-border payments settlement, and facilitate transactions and reduce costs. This will contribute to enhancing the promising prospects for sustainable development and achieving the mutual interests of the two countries." Xiangyang WU, Vice President of CIPS, added, "Our cooperation with the Central Bank of the UAE will provide ample opportunities to strengthen relations between the two countries across the economic, trade, investment, financial, and banking sectors. This MoU reflects our shared desire to strengthen cooperation, exchange expertise, and leverage digital advancements to streamline the processing and settlement of cross-border financial payments more smoothly and efficiently between the two countries, and enable stakeholders to easily access payment services. This will facilitate the achievement of our common goals and support the continued prosperity of both our economies."
Fintech News ME
19-06-2025
- Business
- Fintech News ME
UAE Central Bank and China's CIPS Partner to Enhance Cross Border Payment Efficiency
The Central Bank of the UAE (CBUAE) and CIPS, the operator of China's Cross Border Interbank Payment System, have signed a MoU to strengthen cooperation in payment infrastructure and improve the efficiency of cross border transactions between the UAE and China. Under the agreement, both parties will collaborate on initiatives aimed at supporting the use of their respective payment systems for transactions between the two countries. The partnership will also cover areas such as risk management, compliance, and the exchange of expertise to enhance the security and stability of cross border payment infrastructure. Saif Al Dhaheri, Assistant Governor for Banking Operations and Support Services at CBUAE, said, 'We look forward to keeping pace with developments in the global payments landscape and leveraging technology and innovation to stimulate economic and trade growth, develop the financial services sector in both countries, create innovative financial solutions for cross border payments settlement, and facilitate transactions and reduce costs. This will contribute to enhancing the promising prospects for sustainable development and achieving the mutual interests of the two countries.' Xiangyang Wu, Vice President of CIPS, said, added, 'This MoU reflects our shared desire to strengthen cooperation, exchange expertise, and leverage digital advancements to streamline the processing and settlement of cross border financial payments more smoothly and efficiently between the two countries, and enable stakeholders to easily access payment services. This will facilitate the achievement of our common goals and support the continued prosperity of both our economies.'
Arabian Business
15-04-2025
- Business
- Arabian Business
Al Etihad Payments signs global co-badging deals for Jaywan cards with major payment giants
Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE (CBUAE), announced the signing of strategic co-badging agreements with leading international card schemes, including Discover, Mastercard, UnionPay and Visa. The agreements are aimed at enhancing the usage of Jaywan, the UAE's domestic card scheme, by enabling international transactions while ensuring a strong and efficient domestic payment network. Strategic co-badging partnerships announced The tie-up with international card issuing companies will provide Jaywan cardholders the flexibility to transact worldwide, leveraging the reach of their payment networks. Within the UAE, Jaywan transactions will continue to be processed securely through UAESWITCH, maintaining a high standard of reliability and performance, Al Etihad Payments said. Saif Al Dhaheri, Chairman of Al Etihad Payments, said the company is leveraging advanced technology and strategic partnerships to create a secure and efficient payment ecosystem that aligns with the nation's vision for innovation and financial empowerment. Al Etihad Payments said Jaywan will introduce debit and prepaid co-badged cards for everyday transactions, salary disbursements, and secure cross-border payments. UAE financial institutions will begin issuing Jaywan co-badged cards from H2 of 2025, it said.
Khaleej Times
14-04-2025
- Business
- Khaleej Times
Al Etihad Payments signs Jaywan co-badging agreements with international card schemes
Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE (CBUAE), has announced the signing of strategic co-badging agreements with leading international card schemes, including Discover Mastercard, UnionPay and Visa. These agreements enhance Jaywan, the UAE's Domestic Card Scheme, by enabling international transactions while ensuring a strong and efficient domestic payment network. With these partnerships, Jaywan cardholders will have the flexibility to transact worldwide, leveraging the global reach of leading international payment networks. Within the UAE, transactions will continue to be processed securely through UAESWITCH, maintaining a high standard of reliability and performance. Saif Al Dhaheri, Chairman of Al Etihad Payments, said: 'Jaywan is a key step toward strengthening the UAE's financial infrastructure, offering a locally rooted payment solution that supports economic growth and digital transformation. We are leveraging advanced technology and strategic partnerships, and we are creating a secure, and efficient payment ecosystem that aligns with the nation's vision for innovation and financial empowerment.' Jaywan will introduce debit and prepaid co-badged cards for everyday transactions, salary disbursements, and secure cross-border payments. UAE financial institutions will begin issuing Jaywan co-badged cards from H2 of 2025. Jaywan co-badge cards will provide international acceptance, and cardholders can use their cards abroad, ensuring that travel and cross-border payments remain seamless. These partnerships enhance Jaywan's usability by extending its reach to international merchants, ATMs, and online payment platforms, allowing users to transact effortlessly both in the UAE and beyond.
