UAE and Azerbaijan Central Banks Sign MoU to Boost Financial Sector Cooperation

UAE, 28 May, 2025 : The Central Bank of the UAE (CBUAE) and the Central Bank of the Republic of Azerbaijan (CBAR) have signed a Memorandum of Understanding (MoU) to enhance cooperation and information exchange across key areas in the financial sector.

The agreement was signed by H.E. Khaled Mohamed Balama, Governor of the CBUAE, and H.E. Taleh Kazimov, Governor of the CBAR. It covers the exchange of best practices in supervision, regulation, licensing, and payment infrastructure, as well as collaboration in training, joint research, and technical knowledge sharing.

Governor Balama highlighted the MoU as part of the UAE’s broader efforts to strengthen economic ties and foster innovation in fintech and digital payments, reinforcing the UAE’s global financial standing.

Governor Kazimov praised the UAE's regulatory and technological advancements and emphasized the MoU’s role in enhancing bilateral financial, commercial, and investment cooperation.