The central banks of the Philippines and Cambodia signed a Memorandum of Understanding (MOU) to foster closer cooperation between the two economies.
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. and the National Bank of Cambodia (NBC) Governor H.E. Dr. Chea Serey formalized the agreement at a Siem Reap, Cambodia ceremony on Monday.
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 two central banks also explored the vast potential for further cooperation in these areas, instilling hope for a future of even closer ties.
The MOU is a testament to the unwavering commitment of both the BSP and NBC to establish a robust framework for the facilitation of bilateral ties and the enhancement of cooperation between the two central banks, which have a strong history of collaboration in both bilateral and regional fronts.
The BSP-NBC Bilateral Meeting and MOU on cooperation are expected to encourage more collaboration, particularly in central banking, payment connectivity and innovation, digital financial innovation, banking supervision, human resource development, and other areas of mutual interest.
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