Luxembourg Bankers’ Association (ABBL) and China Banking Association (CBA) have signed a memorandum of understanding (MoU) to establish a regular communication and information sharing between the two associations.
Under the agreement, the two associations will exchange notes on all aspects of the banking industry, including the latest development of regularly frameworks and sound practices for investor protection.
They also intend to offer mutual and beneficial education and training to the relevant members of the associations.
“ABBL and CBA recognising the importance of strengthening the relationship between the European Union and Asia, will also share information on market development, trends, figures and news in China, Luxembourg and the EU,” ABBL said in a statement.
China Banking Association secretary general Runzhong Huang commented: “Luxembourg is a major financial centre in Europe, and Chinese banking sector always value the good relationship with Luxembourg banking sector. To deepen international communication, and promote the steady development of banking business, we wish to establish a long-term cooperation mechanism with ABBL for win-win and mutual development.”