Maldives Monetary Authority and UAE central banking sector came under one umbrella on Sunday to sign MOU for enhancement of mutual friendship in the sphere of technological issues. Maldives Monetary Authority or MMA is internationally recognized financial sector which has earned reputation and goodwill.

UAE central bank has brilliant performance track record in banking industry. However, right now two banks want to work together to help each other technically.

For the last few years, higher authorities of these two banks are facing fraudulence and leakage of information. For this reason, they want to upgrade their own security systems.

In addition at conference, leaders of both banking sectors admitted that there will be effective training programs for guiding employees of the banks to learn how to protect financial resources of these renowned financial institutions.

Sultan Bin Nasser Al Suwaidi who is believed to be UAE’s central bank’s governor owned up responsibility to finalize the deal by signing MOU with MMA representatives. He told to reporters that MOU was successful in nature and it would strengthen future rapport with two financial sectors to work together.