The RBI and the CBUAE signed a Memorandum of Understanding to enhance cooperation in the innovation of financial services. Read more on CE.
- The RBI and CBUAE signed an MoU to enhance cooperation in the innovation of financial services.
- The MoU intends to correlate both India and UAE in various phases of FinTech.
- Under the memorandum, the countries would analyze the interoperability of their CBDCs.
The Reserve Bank of India (RBI) collaborated with the Central Bank of the United Arab Emirates (CBUAE), signing an agreement to “enhance cooperation and jointly enable innovation in financial products and services.”
On March 15, the RBI announced that the regulatory body has signed a Memorandum of Understanding (MoU) with the CBUAE in Abu Dhabi with a mutual understanding to jointly exhibit cooperation in multiple zones of fintech.
Interstingly, the memorandum would provide “technical collaboration and knowledge sharing” on different topics in the area of FinTech and financial products and services.