The United Arab Emirates (UAE) and Indonesia have agreed to deepen cooperation in digital payment systems as part of efforts to simplify cross-border transactions and strengthen economic ties between the two countries.
The discussions took place on Tuesday during a meeting between officials of the two nations, with a focus on leveraging digital technologies to enhance financial connectivity, trade and investment.
Governor of the Central Bank of the UAE, Khaled Mohamed Balama, said closer collaboration in digital payments would strengthen economic resilience, facilitate smoother cross-border transactions and promote greater trade and investment flows between the UAE and Indonesia.
He noted that modern payment solutions are becoming increasingly important in supporting economic growth and expanding financial cooperation between partner nations.
Indonesia’s Ambassador to the UAE, Husin Bagis, commended the UAE’s significant progress in developing its digital payment infrastructure and stressed the need for stronger collaboration between the central banks of both countries.
According to Bagis, expanding the use of national currencies for bilateral trade settlements, integrating payment systems and exchanging technical expertise would further enhance economic cooperation while reducing transaction costs for businesses.
The meeting was held at the Central Bank of the UAE headquarters in Abu Dhabi during the year marking the 50th anniversary of diplomatic relations between the UAE and Indonesia.
Both sides reaffirmed their commitment to strengthening their long-standing strategic partnership, with particular emphasis on expanding collaboration in the banking and financial sectors to support sustainable economic growth.
Source:NAN
