PHNOM PENH (Xinhua): The National Bank of Cambodia (NBC) and the Central Bank of Timor-Leste have signed a Memorandum of Understanding (MoU) to enhance cooperation on digital payment systems and cross-border connectivity, according to an NBC press release issued Monday.
The pact was signed last Saturday in Dili, Timor-Leste, by NBC Governor Chea Serey and Timor-Leste Central Bank Governor Helder Lopes following a bilateral meeting.
"The objective of this MoU is to establish a framework to further strengthen cooperation on digital payments, financial innovation, and financial connectivity," the press release said.
Under the new framework, both central banks will exchange information, knowledge, and experience, while collaborating on joint research and training initiatives.
"This cooperation also aims to promote local currency payments to support trade and investment activities between the two countries," the press release added. -- Xinhua
