Bahrain, UAE Sign BHD 2 Billion Swap Deal

TDT Manama

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Reinforcing financial stability and deepening economic cooperation, the Central Banks of Bahrain and UAE have signed a bilateral currency swap agreement valued at BHD 2 billion (AED 20 billion). The agreement, finalized during a virtual signing ceremony, establishes a five-year framework for currency exchange cooperation between the Bahraini dinar and the UAE dirham.

His Excellency Khaled Mohamed Balama, Governor of the UAE Central Bank, and His Excellency Khalid Ibrahim Humaidan, Governor of the Central Bank of Bahrain, signed the deal, with senior officials and deputy governors from both institutions in attendance.

Speaking on the occasion, HE Khaled Mohamed Balama highlighted that the agreement reflects the shared commitment of the UAE and Bahrain to strengthening financial cooperation and expanding economic ties.

HE Khalid Ibrahim Humaidan described the agreement as a reflection of the strong relations between the two countries.