UAE and Indonesia agree to advance payment systems integration

The United Arab Emirates (UAE) and Indonesia discussed expanding cooperation between the two countries' banks and the use of digital technologies to simplify cross-border payments. This was reported by the Emirates News Agency (WAM), a partner of TV BRICS.

Governor of the Central Bank of the UAE, Khaled Mohamed Balama, noted that cooperation with Indonesia in the field of digital payments would contribute to strengthening economic resilience, expanding trade ties and increasing investment flows between the two countries.

Indonesia’s Ambassador to the UAE, Husin Bagis, highly praised the UAE’s achievements in developing its payment infrastructure and emphasised the importance of further cooperation between the central banks of the two countries.

According to him, the use of national currencies for bilateral settlements, the integration of payment systems and the exchange of expertise could serve as additional tools to support trade and investment.

The meeting took place at the Central Bank’s headquarters in Abu Dhabi during the year marking the 50th anniversary of the establishment of diplomatic relations between the UAE and Indonesia. The parties expressed their interest in further strengthening their strategic partnership, including in the banking and financial sector.