Abu Dhabi: The UAE Central Bank has signed a Memorandum of Understanding (MoU) with the National Bureau of Statistics to exchange information and data as well as statistics and cooperation in the field of training and technical assistance.
The National Bureau of Statistics belongs to the UAE Cabinet.
"It serves the federal strategy of the UAE to have one unified source of government information. The quality of statistics on economic growth rate, balance of payments and inflation will be of IMF (International Monetary Fund) and World Bank standards," Saeed Abdullah Al Hamiz, Senior Executive Director of Banking Supervision and Examination Department at the UAE Central Bank told reporters shortly after the signing of the MoU.
The MoU also includes a mechanism for cooperation in the exchange of information and consolidated financial statements of banks and other monetary data.
It was also agreed to cooperate in staff training and technical cooperation in the field of statistics through exchanges of expertise.
In a statement during the signing of the MoU, Al Hamiz stressed the importance of enhancing cooperation and consolidating efforts in the area of monetary and banking statistics, and its important role in sustainable development in the UAE.
He further confirmed the need for coordination between all agencies in the UAE in area of statistics, considering its importance in safeguarding the nation's financial system.
