Egypt, Tunisia c.banks sign cooperation agreement to boost ties
The Central Bank of Egypt (CBE) signed on Monday a memorandum of understanding with the Central Bank of Tunisia (BCT), a move aimed to bolster financial collaboration.
The agreement aims to enhance cooperation in various banking sectors, including financial stability and monetary policy.
It outlines a comprehensive range of cooperative activities, including:
Knowledge Sharing: Workshops, training courses, conferences, and meetings will facilitate the exchange of experiences and expertise in various banking areas.
Technical Collaboration: Focus on areas such as financial stability, supervisory practices, exchange rate policies, human resources, settlement systems, payment systems, financial inclusion, and more.
Regulatory Alignment: Cooperation in combating money laundering, terrorist financing, and ensuring effective supervision of banking entities.
Technological Advancement: Joint efforts to modernize information systems, enhance cybersecurity, and streamline government and public institution banking operations.
The MoU was inked by CBE Governor Hassan Abdalla and BCT Governor Fethi Zouhair Nouri.
Governor Abdalla emphasised the MoU’s significance in strengthening the relationship between the two central banks and promoting banking sector development in both countries. He highlighted the importance of exchanging expertise to ensure monetary and banking stability and achieve sustainable development.
Meanwhile, Governor Nouri echoed these sentiments, stating that the agreement underscores the deep historical ties between Egypt and Tunisia and paves the way for stronger cooperation between their banking institutions. He reaffirmed their shared commitment to developing the financial sector in both countries.
The signing of the MoU marks a significant milestone in strengthening the bilateral relationship between Egypt and Tunisia, particularly in the realm of banking. It aligns with global trends towards greater financial integration and cooperation, especially in the context of technological advancements and evolving regulatory landscapes.
Attribution: The CBE
