ASIATODAY.ID, KUALA LUMPUR – Bank Negara Malaysia and the National Bank of Cambodia (NBC) strengthened cooperation in financial innovation and regional payments through the signing of a memorandum of understanding (MoU) witnessed by Malaysian Prime Minister Anwar Ibrahim and Cambodian PM Hun Manet.
BNM Governor Abdul Rasheed Ghaffour said the MoU demonstrated the commitment of both countries to increase cross-border and local currency payments.
He said the collaboration would strengthen BNM’s long-standing relationship with NBC for mutual benefit and spur greater, integrated financial innovation to support regional economic development.
Meanwhile, NBC Governor Chea Serey said the MoU marked a significant step in cooperation between the two central banks.
“NBC and BNM will collaborate to encourage financial innovation and improve the cross-border QR Code payment system to increase trade activities and financial inclusion in both countries,” he said in a press release quoted on Thursday, February 29 2024.
In addition, this collaboration will encourage the use of local currencies in accordance with ASEAN goals.
PM Anwar Ibrahim in his press statement said that the MoU between the two central banks was an effort to deal with currency-related problems. (ATN)
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