The Central Bank of the UAE has signed a Memorandum of Understanding with CIPS Co., Ltd., the operator of China’s Cross-Border Interbank Payment System, to strengthen cooperation on payment infrastructure and improve the efficiency of cross-border payments between the UAE and China. The MoU provides for joint work to design and develop initiatives that support more seamless, streamlined and cost-effective use of the two parties’ payment infrastructures for cross-border transactions. Cooperation will also extend to risk and compliance, with expertise sharing intended to enhance the security, safety, soundness and stability of cross-border payment infrastructures and to support smoother processing and settlement and easier access to payment services.
Central Bank of the UAE 2025-06-19
Central Bank of the UAE signs MoU with China’s CIPS to deepen cooperation on UAE-China cross-border payments
The Central Bank of the UAE has signed a Memorandum of Understanding with CIPS Co., Ltd., operator of China's Cross-Border Interbank Payment System, to enhance cooperation on payment infrastructure and cross-border payment efficiency between the UAE and China. The agreement includes joint initiatives for streamlined transactions and expertise sharing in risk and compliance to improve security and stability.