PHNOM PENH: The central banks of Cambodia and the Philippines have signed a memorandum of understanding (MoU) on the enhancement of bilateral cooperation, said a joint news release issued on Tuesday (Aug 20).
The deal was inked on Monday in northwest Cambodia's Siem Reap province between National Bank of Cambodia (NBC) Governor Chea Serey and Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona.
"The MoU signifies the willingness and commitment of both the BSP and NBC to provide a clear framework for the facilitation of bilateral ties and the enhancement of cooperation between the two central banks which have had a history of collaboration in both bilateral and regional fronts," the news release said.
The signing ceremony was followed by a high-level bilateral meeting where the BSP and NBC exchanged views on recent macroeconomic and financial developments and outlook, payment system developments, artificial intelligence, cybersecurity, and sustainable finance, the news release said, adding that the two central banks also discussed opportunities for further cooperation on these areas.
"The BSP-NBC bilateral meeting and MoU on cooperation are expected to encourage more collaboration, particularly in the areas of central banking, payment connectivity and innovation, digital financial innovation, banking supervision, human resource development, and other areas of mutual interest," the news release said. - Xinhua
