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DAB, UAE central bank sign MoU

DAB, UAE central bank sign MoU

Feb 10, 2015 - 15:37

KABULinfo-icon (Pajhwok): In latest development, Da Afghanistaninfo-icon Bank (DAB) and the United Arab Emirates (UAE) central bank have signed a Memorandum of Understanding (MoU) on exchanging information and capacity building, officials said on Tuesday.

The MoU was signed by acting DAB governor Mian Khan Afzal Hudawal and Mubarak Rashid Al-Mansouri, head of the UAE central bank.

“Our employees will have better capacity building opportunities. Steps will be taken towards financial and banking oversight and a stable monetary policy,” the DAB said in a statement.

According to the statement, apart from training programmes for the DAB employees, both countries would also cooperate on issues of banking and financial institutions oversight. “The mechanism would be in line with laws of both countries and international standards to help both countries of having fair financial system.”

DAB acting governor while signing the MoU said: “UAE has turned into a major financial hub and we witness an exuberant increase in investments in the country. The MoU will enhance the two banks’ cooperation.”


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