BI and BNM Agree on MoU to Deepen Central Banking Cooperation

Bank Indonesia (BI) and Bank Negara Malaysia (BNM) have signed a memorandum of understanding (MoU) to deepen the bilateral cooperation framework between the two central banks across various key central banking fields. The collaboration encompasses monetary policy, financial stability and macroprudential measures, payment systems and digitalisation, financial sector development, capacity-building initiatives, information exchange, and other mutually agreed areas. BI Governor Perry Warjiyo, in an official statement in Jakarta on Monday, conveyed that this memorandum of understanding marks an important milestone in strengthening the long-term relationship between BI and BNM, going beyond mere symbolic commitment. “This is evidence of the ongoing spirit to strengthen institutional relations and deepen bilateral cooperation between the two central banks, especially amid the current challenging geopolitical landscape,” said Perry. Meanwhile, BNM Governor Dato’ Abdul Rasheed Ghaffour stated that the memorandum of understanding reaffirms the long-term partnership between BNM and BI. “This also represents our joint commitment to deepen cooperation in existing central banking fields, as well as collaboration in new areas of mutual interest,” said Dato’. The signing of the memorandum of understanding also paves the way for a more robust and synergistic partnership between BNM and BI. Both central banks are committed to continuing to strengthen sustainable cooperation in the two countries.