Arab Finance: Within the framework of strategic relations between Egypt and China, Hassan Abdullah, Governor of the Central Bank Central Bank In Cairo, to discuss ways to enhance cooperation between the two sides in the banking and financial fields.
The meeting discussed a number of important files, including the currency exchange agreement, settlements in local currency, and the issuance of “panda” bonds in the Chinese market, as well as cooperation in linking payments systems and expanding the presence of banks between the two countries to support joint investments.
After the meeting, the governor witnessed the signing of three memoranda of understanding, which included a memorandum between the Suez Canal Bank, the Chinese -Africa -Africa company “Teda” and CIPS, to enhance the use of the Chinese yuan in the Egyptian -Chinese economic cooperation area, a cooperation protocol between the Chinese company UnionPay and the “Egypt Technology Progress” company (EBC) to expand the acceptance of unionpay cards in the Egyptian market, along with aspect Another protocol between UnionPay and Paymop Company to cooperate in publishing electronic admission services for merchants and websites.
These steps reflect the keenness of the two countries to deepen the strategic partnership, and support the efforts of economic integration through the development of the infrastructure of payments and the expansion of cooperation in the fields of financial technology, in a way that contributes to promoting trade and investment exchange and achieving sustainable development.
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