UAE and Bahrain sign currency swap agreement worth AED 20 billion
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The United Arab Emirates and Bahrain have signed a currency swap agreement worth AED 20 billion to strengthen financial cooperation and economic ties. The five-year arrangement aims to support trade and investment flows by encouraging the use of local currencies.
The UAE and Bahrain signed a currency swap agreement worth AED 20 billion. The agreement brings together the UAE Dirham and the Bahraini Dinar under a five-year arrangement. It was signed by the governors of the central banks of the UAE and Bahrain. The deal aims to strengthen coordination between the two central banks and support trade and investment flows. The agreement will contribute to financial stability and strengthen regional and international partnerships.
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