UAE, Israel to form bilateral committees for banking

Abu Dhabi: The UAE and Israel agreed on Tuesday to set up a joint committee to cooperate on financial services, aiming to promote investment between the two countries, Emirates News Agency (WAM) reported.

Abdul Hamid Mohammed Saeed Al Ahmadi, Governor Central Bank of the UAE, and Ronen Barts, Director General of the Israeli Prime Minister's Office, today signed a memorandum of understanding for future cooperation in the banking and financial sector.

During a meeting held in Abu Dhabi in the presence of Israeli National Security Advisor Meir Ben-Shabbat, the two sides agreed to form working groups and bilateral committees to facilitate banking business between the UAE and Israel.

A US-Israeli delegation made a historic visit yesterday to Abu Dhabi to finalise the peace treaty marking open relations between Israel and the Gulf state.