CBUAE joins forces with World Bank to boost financial literacy

ABU DHABI: The Central Bank of the UAE (CBUAE) and the World Bank Group signed an agreement to strengthen cooperation in the areas of financial inclusion, financial literacy, financial consumer protection and financial dispute resolution, as part of the ongoing cooperation between both parties.

The signing was witnessed by Khaled Mohamed Balama, Governor of the CBUAE, and Anna Bjerde, Managing Director of Operations at the World Bank Group, during a high-level meeting held at the CBUAE headquarters in Abu Dhabi.

The two sides discussed a number of priority areas of cooperation, including financial literacy and financial inclusion initiatives, digital fraud prevention principles, enhancing banking and insurance dispute resolution mechanisms, and the second edition of the Regional Summit on Financial Health and Inclusion, scheduled to be held in Abu Dhabi in September 2026 and organised by the CBUAE.

The agreement was signed by Fatma Abdulla Al Jabri, Assistant Governor for Financial Crime, Market Conduct and Consumer Protection at the CBUAE, and Ousmane Dione, Vice President for the Middle East and North Africa, Afghanistan and Pakistan at the World Bank Group, in the presence of the CBUAE Assistant Governors and a number of senior officials from both organisations.

On this occasion, Al Jabri said, "This agreement reflects the CBUAE’s commitment to advancing financial inclusion and financial literacy, and enhancing consumer protection as key pillars for building a society that is better equipped to make informed and responsible financial decisions."

"The CBUAE, in cooperation with partners from various public and private sector entities, is working to develop the National Financial Literacy Strategy, contributing to enhancing financial literacy among individuals and businesses, and supporting a more inclusive and sustainable financial ecosystem.”

Dione said, "This agreement reaffirms the depth of our partnership with the Central Bank of the UAE and our shared commitment to further strengthening the UAE’s position as a leader in financial inclusion and financial health.”

Meanwhile in April 2026, the Central Bank of the United Arab Emirates (CBUAE) and the Bangko Sentral ng Pilipinas (BSP) have signed a Memorandum of Understanding during a virtual ceremony, aimed at developing financial infrastructure, promoting economic collaboration and strengthening bilateral trade.

Under the MoU, both authorities will work to enable seamless cross-border payment transactions by integrating their instant payment platforms and considering the future option of interlinking national card switches and financial messaging systems.

This initiative aims to streamline transaction processing and settlement, enhance interoperability and improve operational efficiency. It also includes the exchange of expertise in developing central bank digital currency (CBDC) platforms for individuals and institutions.

The memorandum further outlines collaboration in key fintech areas, including open finance and digital assets, as well as cooperation in the development of the Islamic banking and finance industry.

This strategic agreement reflects the shared commitment of the UAE and the Philippines to drive financial innovation and deliver secure and efficient payment solutions that strengthen bilateral ties.

WAM