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UAE, Israel ink first protocol to promote banking, financial cooperation

UAE, Israel ink first protocol to promote banking, financial cooperation
The protocol was inked on Tuesday

UAE - Mubasher: The UAE and Israel have signed the first protocol in banking and finance, under which a joint committee will be formed to advance the banking and financial cooperation between the two countries.

The protocol was inked on Tuesday by the Israeli Prime Minister's Office Acting Director-General, Ronen Peretz, and the UAE Central Bank Governor, Abdulhamid Saeed, to create investments between the two countries and promote joint investments in the capital markets.

Commenting on the MoU, Israeli Prime Minister, Benjamin Netanyahu, said: "I welcome the first understandings that have been signed in Abu Dhabi. These understandings will assist us in advancing mutual investments and widespread cooperation. We will soon announce additional agreements in aviation, tourism, trade, and others."

The agreement was reached on the sidelines of the top-level US-Israel delegation's visit to the UAE, which started on Monday, 31 August, to finalise an agreement marking the normalisation of diplomatic relations between the UAE and Israel.  

The delegation, led by the Senior Adviser to US President Donald Trump, Jared Kushner, includes National Security Adviser and Head of the Israeli National Security Council, Meir Ben-Shabbat, and other representatives of different sectors.