The Reserve Bank of India (RBI) and the Central Bank of the United Arab Emirates (CBUAE) signed an MoU to enhance cooperation and innovation in financial products and services, including exploring interoperability between their respective central bank digital currencies. The two central banks will collaborate on various areas of Fintech and jointly conduct pilot programmes on CBDCs, with the aim to facilitate cross-border transactions of remittances and trade and increase the efficiency of cross-border transactions between India and the UAE. The agreement also includes technical collaboration and knowledge sharing on fintech-related matters.