Central Bank of the UAE signed a Memorandum of Understanding (MOU) with the Maldives Monetary Authority on Sunday at the Central Bank's Head Office in Abu Dhabi, for cooperation and exchange of information on banking supervision, technical assistance and training, as well as for combating money laundering and other related issues. Governor of the Central Bank Sultan Bin Nasser Al Suwaidi and Governor of Maldives Monetary Authority Fazeel Najeeb signed the MOU, the UAE news agency "WAM" reported. The MOU sets up a mechanism for mutual cooperation in banking supervision on financial institutions operating in both countries and exchange of information in this regard, in line with the international standards relating to exchange of information between banking supervisory authorities, which would contribute to the realization of a sound financial system. --MORE
