Cambodia, Philippines ink MOU for closer financial cooperation

Representatives participated in a bilateral meeting to discuss macroeconomic and financial developments.

The central banks of the Philippines and Cambodia have inked a memorandum of understanding (MOU) with the aim of fostering closer cooperation between them.

Bangko Sentral ng Pilipinas (BSP) governor Eli M. Remolona Jr. and the National Bank of Cambodia (NBC) governor H.E. Dr. Chea Serey inked the MOU in a ceremony held at Siem Reap, Cambodia on 19 August 2024.

A high-level bilateral meeting followed the signing ceremony, where the BSP and the NBC exchanged views on 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 in these areas, the BSP said in a press release published on its website.

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.