Bank Al-Maghrib and Central Bank deepen ties
The Central Bank of the United Arab Emirates and Bank Al-Maghrib have signed memoranda of understanding to strengthen cooperation in banking supervision and Islamic finance, as well as to link payment systems and financial messaging between the two countries. The first memorandum aims to exchange expertise and develop cross-border financing, including Islamic finance and infrastructure. The second focuses on facilitating cross-border transactions by connecting payment systems, digital platforms, and developing central bank digital currencies and virtual assets. This collaboration is part of both parties' efforts to enhance financial efficiency, support economic relations, and explore innovative methods for cross-border payments.
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