UAE and Georgia Central Banks Sign MoU to Enhance Cross-Border Payments and Fintech Innovation

The Central Bank of the United Arab Emirates (CBUAE) and the National Bank of Georgia (NBG) have formalized a Memorandum of Understanding (MoU) aimed at strengthening their supervisory frameworks and accelerating the development of cross-border payment systems. This agreement, finalized during the Annual Meetings of the International Monetary Fund and the World Bank Group, is expected to boost financial stability and foster fintech innovation between the Middle East and the Caucasus region. The cooperation will cover monetary policy, foreign exchange operations, foreign reserve management, and the supervision of financial institutions.