Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) seeks to open discussions with leading financial institutions in Israel, especially Bank Hapoalim and Bank Leumi, to establish banking relationships.

This announcement came after the Central Bank of the UAE (CBUAE) had signed a Memorandum of Understanding (MoU) with the Israeli prime minister’s office, the bank announced on its official Twitter account.

The discussions will focus on strengthening financial and economic cooperation between the UAE and Israel, namely in the sectors of banking, bilateral trade, and technology and innovation.

It is noteworthy to mention that on Tuesday, 1 September, 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.