Business news

MINSK, 28 November (BelTA) – The National Bank of the Republic of Belarus (NBRB) and the Central Bank of the United Arab Emirates have signed a memorandum of understanding on sharing information and stepping up cooperation in the area of banking oversight, BelTA learned from representatives of the NBRB Information and Public Relations Office.

The document was signed by NBRB Deputy Chairman of the Board Dmitry Lapko and Deputy Governor of the UAE Central Bank Mohammed Ali Bin Zayed Al Falasi in Abu Dhabi on 28 November.

The memorandum provides for expanding cooperation in oversight over the operation of commercial banks and other financial institutions in Belarus and the UAE, cooperation in sharing oversight information, organization of consultations between experts, organization of personnel training.

The memorandum was signed during an international banking oversight conference, which is taking place in Abu Dhabi on 28-29 November. The conference was organized by the Basel Committee on Banking Supervision (BCBS) and the UAE Central Bank. About 250 representatives of oversight agencies and central banks from more than 100 countries are taking part in the conference.