Central Banks of Hong Kong and UAE Move to Strengthen Relations

The central banks of Hong Kong and the UAE indicated today, Tuesday, that they intend to enhance cooperation in various fields. The banks discussed possible arrangements to facilitate cross-border trade settlements and how to improve the use of Emirati companies of Hong Kong's financial infrastructure platforms to access Asian markets and mainland China. Global, Chinese, and Emirati banking groups participated in a bilateral meeting held yesterday, Monday, in Abu Dhabi, including HSBC, Standard Chartered, Citibank, the Industrial and Commercial Bank of China, the Bank of China, First Abu Dhabi Bank, Abu Dhabi Islamic Bank, and Emirates NBD.