UAE to link payments system with Indonesia and Ethiopia
UAE and Ethiopia sign currency swap agreement worth up to $817 million
The Central Bank of the UAE has agreed to link its payments system with Indonesia and Ethiopia.
The plans with Bank Indonesia were announced on July 17, after the governors of the two central banks signed a memorandum of understanding (MoU).
“This MoU embodies the growing economic partnership between the UAE and Indonesia,” said CBUAE governor Khaled Mohamed Balama. As well as supporting bilateral trade and investment, the agreement is an “important pillar” with which to “enhance the UAE’s role in
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