The UAE and Egypt sign an agreement to deal in dirhams and pounds

Today, the UAE Central Bank and the Central Bank of Egypt in the United Arab Emirates signed a bilateral agreement to exchange the UAE dirham and the Egyptian pound to develop the economic and financial matters of the two countries.

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The agreement was concluded by the Governor of the Central Bank of Egypt, “Hassan Abdullah,” and the Director of the Central Bank of the Emirates, “Khaled Mohamed Balama.” The agreement allows the exchange of local currency for both sides with a nominal value of up to 5 billion dirhams and 42 billion Egyptian pounds, according to the terms of the agreement, as the beginning of economic cooperation between the two countries.

Objectives of the currency exchange agreement between the two countries:

The currency exchange agreement between the two countries reflects the depth and strength of bilateral relations between the UAE and the Arab Republic of Egypt and constitutes an important opportunity to develop the economic and financial markets between the two sides based on the keenness of the wise leadership of the two brotherly countries to support bilateral relations in all fields and work to achieve common interests that reflect positively on Bilateral relations and enhancing financial stability in the commercial, investment and financial sectors.
The Central Bank of Egypt and the Central Bank of the Emirates indicated that, within the framework of ongoing cooperation between the sisterly United Arab Emirates and the Arab Republic of Egypt, a local currency swap agreement was concluded between the two countries in support of cooperation, and the barter system is considered the basic foundation for supporting financial cooperation in local currency between the two countries.

On another level, the UAE seeks to increase investment, and there is a large group of visas issued by the United Arab Emirates, the most important of which is visit visas, which are multiple-entry or single-entry visas. This visa allows visiting the country for specific reasons and includes a group of visas.

Visit visas in the UAE:

1-Visa to explore job opportunities.
2-A visa to explore business opportunities.
3- Investment visa
4-Entry of residents of the Gulf Cooperation Council countries.
5-Tourist visa.
6-Transit visa

The entry permit service can be requested through the website and smart application of the Federal Authority for Identity, Citizenship, Customs, and Port Security, the General Directorate of Residency and Foreigners Affairs Dubai website, the Dubai Now application, and the printing centers.

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