CBUAE and Singapore’s Monetary Authority Chart Course for Enhanced Financial Cooperation
The Central Bank of the United Arab Emirates and the Monetary Authority of Singapore have reaffirmed their commitment to deepening bilateral ties, exploring collaborative opportunities across digital payments, sustainable finance and cross-border settlements.
The Central Bank of the United Arab Emirates and the Monetary Authority of Singapore have engaged in substantive discussions to advance their enduring partnership, meeting on the sidelines of the 2026 Annual Meetings of the International Monetary Fund and the World Bank Group in Bangkok.
A senior delegation from the CBUAE, led by Ebrahim Obaid Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability, alongside Ahmed Saeed Al Qamzi, Assistant Governor for Banking and Insurance Supervision, and Mohamed Hussain Al Marzooqi, Head of International and Domestic Affairs, convened with Leong Sing Chiong, Deputy Managing Director (Markets and Development) of MAS, and other senior officials to explore avenues for enhanced cooperation.
The discussions encompassed a remarkably comprehensive array of contemporary financial matters. Particular emphasis was placed upon the development of central bank digital currencies, which represent a transformative frontier in monetary infrastructure. The two authorities examined possibilities for streamlining cross-border trade and settlements, as well as facilitating cross-border payments through QR code technology, innovations that promise to enhance the efficiency and accessibility of international financial transactions. Additionally, the meeting addressed the pressing imperative of green finance and the sophisticated management of climate-related financial risks, reflecting both institutions’ commitment to sustainable economic development.
This latest engagement builds upon a robust foundation established through a memorandum of understanding signed in 2009, testament to the depth and durability of the relationship between these two respected financial institutions.
Ahmed Saeed Al Qamzi observed that the partnership, now spanning more than seventeen years, represents an opportunity for meaningful expansion into emerging financial domains. He emphasised that closer collaboration in cross-border payment and settlement solutions would facilitate enhanced trade and investment flows between the United Arab Emirates and Singapore, delivering tangible benefits to businesses and individuals throughout both nations. He further noted that knowledge exchange between the two institutions positions them to navigate the rapid transformation reshaping the global financial sector with greater agility and foresight.
Source: WAM