The Central Bank of the UAE (CBUAE) and the Hong Kong Monetary Authority (HKMA) held their second bilateral meeting in Hong Kong, strengthening ties between their financial sectors. The meeting, attended by Saif Humaid Al Dhaheri from the CBUAE and Stanley Chan from the HKMA, built on discussions initiated during their first meeting in Abu Dhabi in May 2023.
Key topics included cross-border debt capital market connectivity, financial infrastructure development, and investment opportunities in the MENA region and Mainland China. To formalise cooperation, Khaled Mohamed Balama, CBUAE Governor, and Eddie Yue, HKMA Chief Executive, signed a Memorandum of Understanding (MoU).
The MoU focuses on linking debt capital markets and related financial infrastructures to enable seamless cross-border issuance and investment activities. Balama highlighted this initiative’s role in making the UAE a gateway for MENA issuers and investors to access Asian markets while providing Asian participants with direct access to MENA markets.
Eddie Yue described the MoU as a key milestone, reinforcing Hong Kong’s strategic role as a gateway to Chinese and international debt markets. He expressed optimism about exploring new financial opportunities and deepening cooperation to enhance market connectivity between the Middle East and Asia.
