ABU DHABI, October 1st / WAM / His Excellency Abdullah bin Touq Al Marri, Minister of Economy, discussed, during his meeting in Abu Dhabi, His Excellency Tariq Amer, Governor of the Central Bank of Egypt, expanding opportunities for cooperation in the financial sector and financial technology, and supporting joint efforts in combating money laundering, which contributes to Enhancing stability and economic growth in the two brotherly countries.
During the meeting, His Excellency bin Touq reviewed the most prominent new economic legislation and qualitative initiatives launched by the state to transform into a new knowledge-based economic model that is flexible, competitive and sustainable, and embraces talent and pioneering projects, noting that this modern economic system provides an umbrella for generating new opportunities for cooperation and partnership. Between the UAE and the Arab Republic of Egypt at the level of the government and the private sector during the next stage.
Ibn Touk said: The Arab Republic of Egypt is a strategic partner in all sectors and economic fields, especially the financial sector, which is witnessing fruitful cooperation between the two sides at all levels. Knowledge and digital and innovative services directed to the market in the two brotherly countries.
His Excellency added that the financial sector is a priority in the sustainable development plans led by the two countries to build the economy of the future, and we will work with the Egyptian side to harmonize more with the developments of information technology and digital software for stock markets, and follow the best solutions and modern technologies in the financial sector, financial technology and block applications. Chen, stressing the UAE’s keenness to strengthen its global partnerships and explore new opportunities in this field to serve the goals of the 50 years and achieve the country’s future visions.
For his part, His Excellency Tariq Amer said: During the meeting, I was briefed on the steps and structural adjustments that are being carried out efficiently to develop the investment climate and enable the economy to continue to achieve remarkable results as it is currently achieved, and the legislative amendments that are the cornerstone for achieving this..emphasizing the great congruence of work economic relations between the two brotherly countries.
Amer reviewed the monetary reforms that took place through the reform program and development programs for Egyptian banks that entered the era of digital work and the establishment of the cyber security sector. He also reviewed the huge development in efforts made for financial inclusion and maximizing the role of digital payments and the great renaissance in financing small, medium and micro enterprises .. as well as the procedures Which have been taken to achieve higher levels of governance in the management of Egyptian banks to protect the money of savers and to ensure that the funds that are pumped into development are professionally studied and scientifically managed, and to strengthen the institutional structures in banks and internal control bodies and projects to develop the banking supervision sectors with European central banks, as well as development The great expert in the techniques of analysis and research for monetary policy, the boom that occurred in foreign exchange reserves, and the various policy applied by the Central Bank of Egypt to confront the Corona crisis with the aim of preserving markets, dealers, jobs and general price levels.
The Governor of the Central Bank of Egypt invited His Excellency the Minister of Economy to visit Egypt again. In return, His Excellency Bin Touq praised the huge presidential and governmental projects and the renaissance taking place on the land of Egypt, which he was briefed on during his visit last month.
It is worth noting that the UAE is the largest investor in Egypt at the global level, with a cumulative investment total of more than 55 billion dirhams (US$15 billion), and more than 1250 Emirati companies are working in Egypt in projects and investments that cover various sectors and fields, and relations between the two countries are developing. Continuous at all levels.
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