The Association of Cyprus Banks and the Union of Arab Banks have agreed to set up a new platform to strengthen cooperation between the two banking systems, following the signing of a Memorandum of Understanding (MoU) in Nicosia on Friday.
The agreement was signed by Association of Cyprus Banks president Aristidis Vourakis and Union of Arab Banks secretary general Wissam Fattouh.
The memorandum aims to launch the Arab-Cypriot Banking and
