Thailand, China central banks ink agreement on fintech cooperation

MDV will extend its product offering to venture financing and support on-going fintech initiatives.

BANGKOK: Bank of Thailand (BOT) and People’s Bank of China (PBC) have signed a Fintech Co-operation Agreement to promote innovation in financial services.

Governor of BOT Veerathai Santiprabhob and his counterpart of PBC Yi Gang signed the agreement in Fukuoka, Japan, yesterday. 

In a joint statement, they said under the agreement, BOT and PBC would collaborate on several issues including joint innovation projects and research, information sharing and regulatory coordination.

"The two central banks aim to promote the use of innovation and technology to reduce costs and improve the efficiency of financial products and services,” it said. - Bernama