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19-01-22
Turkey, UAE Central Banks sign deal to enhance mutual trade
(MENAFN) On Wednesday, Central banks of the United Arab Emirates and Turkey signed mutual currency exchange deal.
Based on a declaration by the Turkish Central Bank, the supposed volume of the agreement is equally 18 billion UAE dirham and 64 billion Turkish liras. The deal intends to boost mutual trade and to additionally enhance financial collaboration between both nations.
According to their statement, "it will stand for a period of three years, with the possibility of an extension through mutual agreement."
Based on Sahap Kavcioglu, the Turkish Central Bank governor statement after inking the agreement, this deal shows that both central banks’ commitment to extend mutual trade in local currencies so as to expand economic and financial ties between our nations.
MENAFN19012022000045013568ID1103562458
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