CBE and Vietnamese Counterpart Forge Closer Ties with MoU Signing

Today, at the government headquarters in New El Alamein City, Dr. Mostafa Madbouly, the Prime Minister of Egypt, witnessed the signing of a Memorandum of Understanding (MoU) between the Central Bank of Egypt and its Vietnamese counterpart, aimed at bolstering cooperation between the two countries.

The signing ceremony was attended by Tran Luong Quang, Deputy Prime Minister of the Socialist Republic of Vietnam, and his accompanying delegation to Egypt.

From the Egyptian side, the MoU was signed by Rami Abu Al-Naja, Deputy Governor of the Egyptian Central Bank, while from the Vietnamese side, it was signed by Pham Thanh Ha, Deputy Governor of the Vietnamese Central Bank.

During the meeting with the Vietnamese Central Bank delegation, the Deputy Governor of CBE expressed his warm welcome to the Vietnamese delegation, noting that this visit marks the beginning of fruitful cooperation between the two countries, which was also exemplified by the visit of the Vietnamese Deputy Prime Minister to Egypt on this day.

He affirmed that the Central Bank of Egypt is prepared to offer various facilitations and expertise to meet the needs of the Vietnamese Central Bank in terms of knowledge transfer to banking professionals, in addition to exchanging experts and training programs between the two sides.

The signed agreement aims to enhance the exchange of opinions and perspectives between the two parties regarding the application of international banking regulatory principles. Furthermore, it will facilitate bilateral dialogues on monetary policies and foreign exchange policies between the two central banks.

The primary goal of this agreement is to promote development and growth in both countries, while also providing training for employees in the banking sector and facilitating the exchange of information related to amendments and developments in banking laws and regulations.

It is worth mentioning that the high-level visit of the Vietnamese delegation to Egypt comes within the framework of the distinguished and historical relations between the two countries, as evident in the mutual visits between their leaders in recent years and the signing of several agreements to enhance mutual cooperation in various fields.