The Hong Kong Monetary Authority and the Central Bank of the United Arab Emirates agree to strengthen cooperation on financial infrastructure, virtual asset supervision and development

The Hong Kong Monetary Authority issued a press release stating that the Central Bank of the United Arab Emirates (Central Bank of the United Arab Emirates) and the Hong Kong Monetary Authority (HKMA) held a bilateral meeting in Abu Dhabi on May 29 (Abu Dhabi time) to strengthen the financial services of the two places. cooperation in the field. During the meeting, the Central Bank of the United Arab Emirates and the Monetary Authority discussed a number of cooperation plans and agreed to strengthen cooperation in three major areas: financial infrastructure, financial market interconnection between the two places, and virtual asset supervision and development. In addition, the two parties facilitated discussions and knowledge sharing on cooperation plans for fintech development in their respective innovation hubs. The Central Bank of the United Arab Emirates and the Monetary Authority of the United Arab Emirates will jointly set up a working group to promote the cooperation matters agreed by the two sides with the support of relevant stakeholders (stakeholders) of the banking industry in the two places. Banks attending the seminar included First Abu Dhabi Bank, Abu Dhabi Islamic Bank, Emirates NBD, Industrial and Commercial Bank of China, Bank of China, HSBC and Standard Chartered operating in the UAE, and Bank of China, Citigroup, HSBC and Standard Chartered operating in Hong Kong.