Officials of the Central Bank of the United Arab Emirates (CBUAE) and the Hong Kong Monetary Authority (HKMA) met on Wednesday and discussed deepening financial cooperation and connectivity.
The CBUAE and the HKMA conducted in-depth discussions during the meeting in Abu Dhabi, which was chaired by Governor of the CBUAE Khaled Mohamed Balama and Chief Executive of the HKMA Eddie Yue Wai-man.
Their discussion covered several key areas, including cross-border debt capital market connectivity; developments in digital assets, tokenisation, and central bank digital currency; the development of regulatory frameworks for stablecoins; and supply chain financing.
The CBUAE has formally joined the Central Moneymarkets Unit (CMU), Hong Kong's core central securities depository for debt securities, following the signing of the Memorandum of Understanding in December 2024 to establish debt capital market and the related financial market infrastructure connectivity.
This provides the CBUAE and investors in the United Arab Emirates direct and cost-effective access to the Chinese mainland's capital markets and financial assets, leveraging the Hong Kong Special Administrative Region's established financial infrastructure.
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"I am pleased to see the progress achieved to date in concretizing our debt capital market connectivity, and am delighted to welcome the CBUAE as a member of the CMU,” Yue said.
“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.”
Balama said the CBUAE’s collaboration with the HKMA reflects a shared commitment to strengthening cross‑border financial market connectivity and international partnership.
“The CBUAE's membership in the Central Moneymarkets Unit enables access to Asian capital market and deeper engagement with other global financial centers, which supports diversifying investment opportunities for market participants in the United Arab Emirates, and reinforcing the country's role as a leading international capital market hub,” Balama said.
“We value this partnership and look forward to continued co-operation that contributes to more resilient and better-connected financial markets," he added.
