Dubai, UAE, 15 October 2026: The Central Bank of the UAE (CBUAE) and the National Bank of Georgia (NBG) have signed a new agreement to strengthen financial cooperation, banking supervision and the exchange of expertise between the two countries.
The Memorandum of Understanding (MoU) was signed on 13 October in Bangkok, Thailand, during the annual meetings of the International Monetary Fund (IMF) and the World Bank Group. It was signed by Khaled Mohamed Balama, Governor of the CBUAE, and Natia Turnava, Governor of the NBG.
The agreement aims to support financial stability and improve cooperation across the banking and financial sectors. It also provides a framework for sharing knowledge and experience on key financial matters.
Key Areas of Financial Cooperation
The MoU covers several areas, including monetary policy, foreign exchange operations, foreign reserve management, financial supervision, payment systems and financial technology.
Both central banks will have a framework to exchange information, conduct joint research and share best practices. They may also arrange staff visits, training sessions and working groups to build expertise and support closer cooperation.
These efforts are intended to help both regulators respond to changes in the financial sector and strengthen their supervisory practices. For businesses, sound financial controls and financial compliance services remain important as regulators continue to develop their systems and share expertise.
Payment Systems and Financial Technology in Focus
Payment system modernization is another key area of the agreement. The aim is to support the development of secure and efficient financial services and improve the way cross-border transactions are handled.
Georgia is working to upgrade its Real-Time Gross Settlement (RTGS) system and develop an Instant Payment System (IPS). These projects form part of its wider payment infrastructure development.
However, the MoU does not confirm that the UAE and Georgia have already linked their payment systems. It also does not mean that transfer fees have fallen or that instant payments between the two countries are now available. Any future progress will depend on how the cooperation develops.
Businesses involved in cross-border trade should continue to maintain clear transaction records and review their accounts payable and receivable processes. Proper records can help companies track payments, manage outstanding balances and support their financial reporting.
What Does the Agreement Mean for Businesses?
The agreement is relevant to financial institutions, investors and businesses with links to the UAE and Georgia. Greater cooperation between regulators may support the development of financial services, but it does not remove existing tax, reporting or legal duties.
Companies should review their bookkeeping services, financial records and internal controls to ensure that transactions are recorded correctly. Businesses assessing new commercial relationships can also use due diligence services to review relevant financial information and identify potential risks before making decisions.
Clear records are also important when preparing accounts or undergoing an audit. Businesses should retain invoices, payment records and other supporting documents to help explain their transactions when required.
What Should Businesses Do Now?
Companies should monitor official updates from the CBUAE and NBG to understand how the agreement is put into practice. They should also review their financial procedures, keep supporting documents for cross-border transactions and check that their reporting processes meet the rules that apply to them.
Businesses that need help reviewing their records or compliance arrangements can seek professional guidance. Dubai Business and Tax Advisors (DBTA) provides support in areas such as bookkeeping, due diligence services, auditing and assurance, and tax compliance. These services can help businesses maintain accurate records and better understand their financial and regulatory responsibilities.
The agreement marks a new step in financial cooperation between the UAE and Georgia. Its practical impact will depend on the actions both central banks take as they work together.
