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China, UAE to Advance Cross-Border Payment Cooperation
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China and UAE Ink Deal to Boost Cross-Border Payment Cooperation - Fintechnews Middle East
China’s Cross-Border Interbank Payment System (CIPS) and the Central Bank of the United Arab Emirates (CBUAE) have signed a MoU to strengthen cooperation on cross-border payments, the People’s Bank of China (PBOC) announced. According to the statement by the PBOC, which oversees and regulates CIPS, the agreement is expected to enhance payment infrastructure and improve the efficiency of cross-border transactions. As part of the agreement, CIPS a…
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