CBE, BCT sign MoU to strengthen banking sector collaboration

The Central Bank of Egypt (CBE) and the Central Bank of Tunisia (BCT) have signed a memorandum of understanding (MoU) to enhance collaboration in the banking sector across all areas of shared interest. The agreement was formalized by Hassan Abdullah, Governor of the CBE, and Fathi Zuhair Al-Nouri, Governor of the BCT.

Hassan Abdullah highlighted that the MoU signifies the strong ties between the CBE and its Tunisian counterpart. The main goal of this partnership is to advance the banking sectors of both nations, supporting monetary and financial stability to foster sustainable development through the sharing of expertise and experience in mutually relevant areas.

Fathi Zuhair Al-Nouri, Governor of the BCT, noted that this agreement marks a step forward in deepening the partnership between the banking institutions of both countries and underscores their commitment to financial sector growth.

The MoU will prioritize financial stability, regulatory developments, and exchange rate policies to maintain a safe and sound financial environment. It also places a strong emphasis on human resources, settlement systems, and payment services, aiming to enhance operational efficiency and transaction processes.

Additionally, the MoU includes key aspects such as financial inclusion, liquidity management, and financial research, to ensure broader access to services, proper liquidity control, and the promotion of financial studies. The areas of focus also extend to improving statistical methods, anti-money laundering measures, and regulatory supervision, to enhance compliance and data integrity.

Moreover, the agreement will address a range of topics including monetary policies, digitalization, information systems modernization, cybersecurity, and the management of banking operations for government and public institutions, all of which are aimed at enhancing security and strengthening technological infrastructure.