The Central Bank of the UAE (CBUAE) and the Hong Kong Monetary Authority (HKMA) held their third meeting in Abu Dhabi.

Khaled Mohamed Balama, Governor of the CBUAE, and Eddie Yue, Chief Executive of the HKMA, chaired the meeting.

It aimed to strengthen collaboration and connectivity between the financial sectors of both jurisdictions. The meeting built on progress from their second meeting in Hong Kong in December 2024.

Officials discussed cross-border debt capital market connectivity, developments in digital assets, tokenisation, central bank digital currencies, stablecoin regulations, and supply chain financing.

Senior representatives from both institutions attended, highlighting their commitment to advancing technical and strategic cooperation.

The CBUAE has joined the Central Moneymarkets Unit (CMU), Hong Kong’s core central securities depository for debt securities.

This follows a MoU signed at the previous meeting. It establishes connectivity in debt capital markets and related financial infrastructure.

Membership in the CMU gives the CBUAE and UAE investors direct access to Chinese Mainland capital markets and financial assets via Hong Kong. This represents a significant step in regional financial integration.

Khaled Mohamed Balama said:

“The CBUAE’s membership in the Central Moneymarkets Unit enables access to Asian capital markets and deeper engagement with other global financial centres. It supports diversifying investment opportunities for UAE market participants and reinforces the country’s role as an international capital market hub.”

Eddie Yue said:

“I am delighted to welcome the CBUAE as a member of the CMU. This underscores Hong Kong’s position as a leading offshore Renminbi hub and a gateway for international investors to access broader China and Asia markets. The cooperation between our central banks demonstrates a clear vision for mutual growth and innovation.”

Featured image credit: Edited by Fintech News Middle East, based on image by mrsiraphol via Freepik