UAE C.bank and Bank Indonesia to promote use of local currencies for bilateral transactions
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Reuters
UAE C.bank and Bank Indonesia to promote use of local currencies for bilateral transactions
DUBAI, May 10 (Reuters) –The United Arab Emirates’ central bank and Bank Indonesia (BI) signed a a Memorandum of Understanding (MoU) to promote the use of local currencies for bilateral transactions, the UAE central bank said in a statement on Friday.
“The partnership between the UAE and Indonesia witnessed a remarkable growth in non-oil trade, doubling between 2017 and 2023 to reach more than AED 16 billion,” it added.
Reporting by Nayera Abdallah; Editing by Michael Georgy
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