Latest news with #financialcooperation
Zawya
a day ago
- Business
- Zawya
Mohamed bin Hadi Al Hussaini explores ways of enhancing economic ties with Latin American and Caribbean ambassadors
Dubai: H.E. Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, met with H.E. Francisco Chacón Hernández, Ambassador of Costa Rica to the UAE, along with a number of ambassadors from Latin American and Caribbean countries, to explore avenues for strengthening financial, economic, and development cooperation between the UAE and the group. The meeting was held at the Ministry's headquarters in Dubai. The meeting, convened at the request of the Costa Rican Embassy on behalf of the Latin American and Caribbean Group of Ambassadors, focused on the importance of promoting the region as strategic partners for the UAE, expanding bilateral cooperation through knowledge and experience exchange, and building sustainable channels of communication that align with shared development aspirations across various sectors. Al Hussaini commended the strong financial and economic relations between the UAE and the Latin American and Caribbean countries, emphasising that expanding cooperation with the group aligns with the UAE's strategic vision to support regional financial stability and advance sustainable development with partner nations. The two sides concluded the meeting by reaffirming the importance of continued coordination and consultation to further strengthen bilateral relations and reinforce the foundations of joint cooperation with the Latin American and Caribbean countries.
Zawya
11-07-2025
- Business
- Zawya
Egypt, China sign 3 MoUs to boost financial, payment system ties
Arab Finance: The Governor of the Central Bank of Egypt (CBE), Hassan Abdalla, received his Chinese counterpart Pan Gongsheng in Cairo, where the two officials discussed enhancing bilateral financial cooperation and witnessed the signing of three memoranda of understanding (MoUs) aimed at deepening economic ties, as per a statement. The first MoU was signed between Suez Canal Bank, China-Africa Investment Company (TEDA), and CIPS Limited, the operator of China's Cross-Border Interbank Payment System. The agreement aims to promote the use of the Chinese yuan among businesses operating in the Egypt-China Economic and Trade Cooperation Zone. The second agreement was signed between Chinese payment firm UnionPay and the Egyptian Banks Company (EBC), which manages Egypt's national payment infrastructure. This partnership seeks to improve Egypt's electronic payment ecosystem and broaden acceptance of UnionPay cards across points of sale and online platforms throughout the country. UnionPay also signed a separate MoU with Egyptian fintech PayMob to expand the acceptance of its cards among merchants and websites affiliated with PayMob. Discussions between the two sides focused on several key areas, including a local currency swap agreement, settling payments in local currencies, Egypt's issuance of Panda bonds in the Chinese market, and linking the two countries' payment systems. They also explored ways to boost the presence of Chinese banks in Egypt and Egyptian banks in China to encourage joint investments. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
bnok24
10-07-2025
- Business
- bnok24
Governor of the Central Bank of Egypt Hosts Governor of the People's Bank of China and Witness Signing of Three Memoranda of Understanding for Joint Cooperation
Within the framework of the strategic and historic relations between the Arab Republic of Egypt and People's Republic of China, H.E. Mr. Hassan Abdalla, Governor of the Central Bank of Egypt (CBE), received H.E. Mr. Pan Gongsheng, Governor of the People's Bank of China (PBOC), and his accompanying delegation, during an official visit to Egypt, at the premises of the CBE. The two parties explored ways to enhance cooperation between their respective central banks, and develop mechanisms for exchanging technical expertise across areas of mutual interest to strengthen and advance economic relations between both countries On this occasion, Mr. Abdalla warmly welcomed Governor Gongsheng and his delegation to Egypt, expressing his delight at this visit, which reinforces the deep-rooted ties between the two countries. He emphasized that the visit presented a vital opportunity to exchange expertise and expand financial and banking cooperation, supporting economic stability and contributing to sustainable development for both countries. During the meeting, the two governors tackled important topics related to the local currency swap agreement, payments settlements in local currency, issuance of Panda Bonds and the creation of connectivity between the payments systems of the two countries. Moreover, the meeting tackled the importance of enhancing the presence of banks in the two countries along with promoting and encouraging bilateral investment flows After the meeting, the Governor of the CBE and his Chinese counterpart witnessed the signing of three MoUs to strengthen joint cooperation across various sectors. Notably, an MoU was signed between Suez Canal Bank, China-Africa 'TEDA' Investment Company, and CIPS Company Limited – the operational institution for the Cross-border Interbank Payment System 'CIPS' in China, with the aim of promoting the use of the Chinese Yuan within the China-Egypt Suez Economic and Trade Cooperation Zone Moreover, China's UnionPay International Company signed an MoU with the Egyptian Banks Company for Technological Advancement (EBC) in the field of electronic payment systems and services. The MoU focused on strengthening the e-payment infrastructure and expanding the acceptance of UnionPay cards across the Egyptian market, enabling cardholders to make purchases at all electronic Points-of-Sale (POS) terminals or e-commerce websites within the country Additionally, China's UnionPay Company signed a cooperation protocol with Paymob to promote electronic acceptance services for businesses and websites partnered with Paymob for UnionPay's cardholders These protocols reflected the Egyptian-Chinese commitment to boosting their bilateral strategic partnership and supporting economic integration efforts by advancing financial services infrastructure and expanding collaboration in the field of electronic payments, thereby contributing to the achievement of sustainable development goals and promoting trade and investment exchange between the two countries Google News تابعونا على تابعونا على تطبيق نبض CBEGovernor of the Central Bank of EgyptHassan Abdalla جاري التحميل ...
Khaleej Times
09-07-2025
- Business
- Khaleej Times
UAE, Pakistan discuss ways to enhance cooperation in financial fields
Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, met with Bilal Azhar Kayani, Minister of State for Finance and Railways and Head of the Prime Minister's Delivery Unit in Pakistan, to explore ways to strengthen bilateral relations in financial fields, including expanding cooperation in fiscal policy and public revenue management. Held at the Ministry of Finance Offices in Dubai, the meeting discussed the importance of exchanging expertise and building sustainable institutional partnerships that support financial stability and foster comprehensive development in both countries. It comes as part of both sides' commitment to advancing a financial partnership aligned with development priorities and the challenges of the global economy. Al Hussaini lauded the strength of the longstanding financial and economic ties between the UAE and Pakistan. He noted that expanding channels of financial cooperation with Pakistan aligns with the UAE's priorities of promoting regional financial stability and enabling sustainable development through effective partnerships that enhance fiscal performance and resource sustainability in both nations. At the end of the meeting, both sides reaffirmed the importance of continued coordination and dialogue to strengthen bilateral relations and deepen cooperation in the financial sector.
Zawya
09-07-2025
- Business
- Zawya
Mohamed bin Hadi Al Hussaini, Pakistan's Minister of Finance discuss ways to enhance cooperation in financial fields
Dubai: H.E. Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, met with H.E. Bilal Azhar Kayani, Minister of State for Finance and Railways and Head of the Prime Minister's Delivery Unit in the Islamic Republic of Pakistan, to explore ways to strengthen bilateral relations in financial fields, including expanding cooperation in fiscal policy and public revenue management. Held at the Ministry of Finance Offices in Dubai, the meeting discussed the importance of exchanging expertise and building sustainable institutional partnerships that support financial stability and foster comprehensive development in both countries. It comes as part of both sides' commitment to advancing a financial partnership aligned with development priorities and the challenges of the global economy. Al Hussaini lauded the strength of the longstanding financial and economic ties between the UAE and Pakistan. He noted that expanding channels of financial cooperation with Pakistan aligns with the UAE's priorities of promoting regional financial stability and enabling sustainable development through effective partnerships that enhance fiscal performance and resource sustainability in both nations. At the end of the meeting, both sides reaffirmed the importance of continued coordination and dialogue to strengthen bilateral relations and deepen cooperation in the financial sector.
