The Bangko Sentral ng Pilipinas and the National Bank of Cambodia (NBC) signed a memorandum of understanding for enhanced cooperation.
BSP Governor Eli Remolona Jr., and NBC Governor Chea Serey signed the MOU in a ceremony on August 19, 2024 at Siem Reap, Cambodia. The MOU aims to foster cooperation between the two central banks.
After the signing ceremony, the BSP and NBC held a high-level bilateral meeting where both banks exchanged views on recent macroeconomic and financial developments and outlook, payment system developments, artificial intelligence, cybersecurity and sustainable finance.
The two central banks also discussed opportunities for further cooperation on the said areas.
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 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.
