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Home > Memorandum of Understanding between the National Bank of Tajikistan and the Central Bank of the United Arab Emirates on cooperation and exchange of information

Memorandum of Understanding between the National Bank of Tajikistan and the Central Bank of the United Arab Emirates on cooperation and exchange of information

Taking into consideration  the friendly and co-operative relation existing between the Republic of Tajikistan and  the United Arab Emirates and with  intention of promoting and enhancing the co-operation between the regulatory authorities.

The National Bank of the Republic of Tajikistan (hereinafter called NBRT) and the Central Bank of the United Arab Emirates (hereinafter called ”CBUAE”), have agreed to the following:

1. NBRT and CBUAE shall promote mutual understanding of each other’s economic situation and policies so as to foster closer co-operation in the financial sector. The two authorities shall engage in frank and open exchange of views on monetary and regulatory issues within the framework of general macroeconomic policies, as well as banking system, and banking regulation and supervision.

2.Any possible differences and/or disputes arising out of transactions concluded between banks shall be settled between the banks concerned. NBRT and CBUAE shall assist banks and advise relevant solutions for expediting an early settlement of such differences and disputes.

3.In this regard, NBRT and CBUAE also agree to:-

  • Exchange views on monetary and financial policies to promote sustainable economic growth in the UAE and Tajikistan.
  • Exchange views on banking business activities, implementation of international banking prudential principles as well as banking regulation and consolidated supervision that contribute to the realization of a sound financial system in the UAE and Tajikistan.
  • Exchange information on financial and banking activities as well as any provisions concerning the finance and banking activities in the UAE and Tajikistan.
  • Promote and establish a fruitful co-operation between the NBRT and CBUAE, which will entail training and exchange of official and staff.

   The issues of mutual interest shall be determined through an exchange of correspondence between the NBRT and CBUAE.

4.This Memorandum of Understanding shall  come into force from the date of  its signing, and will be  valid for  a period of two(2) years. It shall be automatically renewed unless either NBRT or CBUAE gives 30-days written notice to the contrary.

 This Memorandum is made in Arabic, Tajik & English in three copies. Each copy shall constitute on original. In case of differences or discrepancies, the Arabic version shall prevail.

Signed on this day, Monday of 9th April, 2007 in Abu Dhabi, United Arab Emirates.

For and behalf ofNational Bank of theRepublic of TajikistanFor and on behalf ofCentral bank of the UAE