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The Central Bank of the UAE and the Central Bank of Egypt signed the renewal at CBUAE headquarters on September 29. The dirham–Egyptian pound agreement has a nominal value of AED 5 billion, equivalent to EGP 69 billion, and extends for five years.
The central banks said it is intended to support bilateral trade, financial cooperation and economic development. Their governors described local-currency settlements as one use and linked the renewal to financial stability and trade and investment operations. The announcement records the terms but does not say the full nominal amount has been drawn.