Malaysia and Thailand sign MoU to improve banking

In agreement: Muhammad and Veerathai (right) at the MoU signing in Cebu Island, the Philippines.

KUALA LUMPUR: The central banks of Malaysia and Thailand signed a memorandum of understanding (MoU) to enhance the supervision of banks operating in both countries as well as to improve coordination in key areas.

In a joint statement, the central banks of both countries said the MoU served as a solid foundation for effective supervision of the banking institutions operating in both countries, as well as a basis for closer coordination in the areas key to ensuring sustainable financial development.