The Central Bank of Turkey and the Central Bank of the UAE signed three agreements aimed at expanding financial cooperation and developing trade and economic ties.
according to the statement of the Central Bank of Turkey, between the two banks a bilateral currency is concluded in the amount of 198 billion Turkish lires and 18 billion of the UAE dirhams. Mutual understanding: the first provides for the stimulation of the use of national currencies in cross-border calculations, the second integration of payment and information systems of both countries.
documents were signed at ceremonies in the presence of senior representatives of the Parties by the chairman of the Central Bank of Turkey Fatikh Karakhan and the head of the Central Bank of the UAE HALADEM BAALAM.
The message notes that it is noted that it is noted that Agreements are called upon to simplify cross -border financial and trade operations, ensure liquidity in national currencies and thereby strengthen cooperation between the two countries.
“these agreements reflect our general commitment to the development of financial partnership and bilateral trade using national currencies. They contribute to more deep economic relations and support the goals of sustainable development,” said the said the purpose Karakhan.
He emphasized that new agreements open up opportunities to expand investment and trade interaction and introduce advanced technologies, including artificial intelligence.
The head of the Central Bank of the UAE Balam, in turn, noted that the use of national currencies in cross -border operations reduces costs, accelerates the calculations and contributes to the development of currency markets both countries. “This leads to an increase in trading volumes and financial transfers,” he summed up.