Dubai's Emirates NDB signs MoU with Israel's Bank Hapoalim | Reuters:
The two largest lenders in the United Arab Emirates and Israel, Emirates NDB and Bank Hapoalim, signed a memorandum of understanding (MoU) as the two countries move to forge ties, a statement from Hapoalim said on Monday.
It is the first banking agreement between lenders in the two countries since they agreed to normalise ties under a U.S.-brokered accord.
“The MoU marks a historic first as the banks look to further cooperation ties following the establishment of financial and economic relations between the United Arab Emirates and Israel,” the Bank Hapoalim statement said.
The UAE, along with Bahrain, is due to sign a normalisation deal with Israel on Tuesday at a White House ceremony hosted by U.S. President Donald Trump.
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