Egypt, UAE central banks ink deal to renew AED 5 billion currency swap
On this occasion, Balama: “The renewal of the currency swap agreement between the two nations reflects the depth and robustness of the strategic relations binding the United Arab Emirates and Egypt, and embodies our shared commitment to developing financial and banking cooperation.” For his part, Abdullah said: “The signing of the local currency swap agreement renewal between the CBUAE and the CBE comes as an extension of the close cooperation pathway connecting our two brotherly nations, and supports the joint efforts aimed at consolidating economic ties.” Both parties reaffirmed their commitment to continuing joint efforts to enhance financial and banking cooperation, achieving mutual interests and supporting financial stability and economic growth in the United Arab Emirates and Egypt.
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