Source : WAM
The Central Bank of the United Arab Emirates (CBUAE) and the Hong Kong Monetary Authority (HKMA) held their third meeting in Abu Dhabi, chaired by Khaled Mohamed Balama, Governor of the CBUAE, and Eddie Yue, Chief Executive of the HKMA.
The meeting focused on further strengthening collaboration and connectivity between the financial sectors of both jurisdictions, reflecting the depth of their institutional partnership and shared regulatory vision.
Building on progress from the second meeting in Hong Kong in December 2024, the CBUAE and HKMA engaged in detailed discussions on key topics, including cross-border debt capital market connectivity, developments in digital assets, tokenisation, and central bank digital currency, as well as regulatory frameworks for stablecoins and supply chain financing.
The meeting was attended by Assistant Governors and senior officials from both institutions, underscoring their commitment to advancing financial and technical cooperation, supporting sustainable sector development, and promoting institutional coordination at both strategic and operational levels.
Following the signing of a Memorandum of Understanding during the second meeting, the CBUAE has formally joined the Central Moneymarkets Unit (CMU), Hong Kong’s core central securities depository for debt securities. This establishes connectivity for debt capital markets and related financial market infrastructure.
Membership in the CMU gives the CBUAE and UAE investors direct and cost-effective access to Mainland China’s capital markets and financial assets via Hong Kong’s established financial infrastructure. This represents a significant step in enhancing market connectivity and deepening financial integration between the two regions.
“Our collaboration with the Hong Kong Monetary Authority reflects a shared commitment to strengthening cross‑border financial market connectivity and international partnership,” Balama said.
He added that the CBUAE’s CMU membership provides access to Asian capital markets and deeper engagement with global financial centres, supporting diversified investment opportunities for UAE market participants and reinforcing the country’s role as a leading international capital market hub.
Yue stated, “I am pleased to see the progress achieved to date in concretising our debt capital market connectivity, and am delighted to welcome the CBUAE as a member of the CMU. This underscores Hong Kong’s position as a leading offshore Renminbi business hub, and a premier gateway for international investors to tap into the broader China and Asia markets.”
He added that the partnership between the two central banks demonstrates a clear vision for mutual growth and innovation.
