The Central Bank of Egypt (CBE) and the Central Bank of Tunisia have entered into a memorandum of understanding (MoU) in the banking sector to strengthen collaboration in areas of mutual interest, such as sharing experiences in financial stability and monetary policy.
The agreement is a result of the strong relations and historical ties between the two countries, as stated by the CBE in a release on Monday.
Hassan Abdalla, Governor of the Central Bank of Egypt, and Fathi Zohir Al-Nouri, Governor of the Central Bank of Tunisia, signed the MoU at the CBE headquarters.
Abdalla mentioned, “The MoU signifies the robust relationship between the CBE and its Tunisian counterpart, with the goal of advancing the banking sector in both countries and supporting monetary and banking stability to achieve sustainable development through the exchange of expertise and experiences in common operational areas.”
According to SIS website Zohir Al-Nouri also emphasized the depth of the historical and fraternal relations between the two peoples, marking a new step toward strengthening the common ties between their banking institutions and reflecting their shared commitment to developing the financial sector in their countries.
The MoU aims to facilitate the exchange of experiences and knowledge through workshops, training courses, conferences, and meetings, focusing on various areas.
These areas include financial stability, regulatory developments, exchange rate policies, human resources, settlement systems, payment systems and services, financial inclusion, and cash and liquidity management.
Additionally, they encompass research, publishing, statistics, anti-money laundering and counter-terrorism financing, oversight of regulated entities, monetary policies and operations, digitization and updating information systems, as well as cybersecurity and management of banking operations for government and public institutions.
The CBE highlighted that the signing of this MoU is a positive step to support the cooperation between the two brotherly countries, especially in the field of banking development, particularly in light of international regulatory developments and the digitization of banking operations, in response to the rapid pace of technology use in related fields.
