SULAIMANI (ESTA) — The central banks of Hong Kong and United Arab Emirates (UAE) said on Tuesday they plan to boost cooperation in multiple areas as the two markets seek to strengthen financial ties.
The Hong Kong Monetary Authority and the Central Bank of the United Arab Emirates intend to collaborate on financial infrastructure, financial market connectivity and virtual asset regulations.
The central banks discussed possible arrangements to facilitate cross-border trade settlement, and how UAE companies can better use Hong Kong financial infrastructure platforms to access Asia and the Mainland markets.
Global, Chinese and UAE Banking groups attending a bilateral meeting held on Monday in Abu Dhabi included HSBC, Standard Chartered, Citi, Industrial and Commercial Bank of China, Bank of China, First Abu Dhabi Bank, Abu Dhabi Islamic Bank, and Emirates NBD.
