Israel, UAE signed MoU on cooperation in banking and financial services

JERUSALEM, Israeli Prime Minister Benjamin Netanyahu welcomed on Tuesday the signing of a protocol of understanding on cooperation in banking and financial services between Israel and the United Arab Emirates (UAE).

The agreement was signed in Abu Dhabi by Israeli Prime Minister’s Office Acting Director-General Ronen Peretz and UAE Central Bank Governor Abdulhamid Saeed, the Israeli Prime Minister’s Office said in a statement.

Under the new agreement, a joint Israel-UAE committee will be formed to advance cooperation in finances and investments, the statement said.

“To this end, the sides will discuss advancing cooperation in financial services and lowering financial impediments to making investments between the countries and promoting joint investments in the capital markets,” the statement read.

Cooperation in banking services and payment regulations will be discussed too.

The new protocol follows a U.S.-brokered agreement to normalize ties between Israel and the UAE, which was announced on Aug. 13.

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