Malaysia and Indonesia Central Banks Sign MoU to Deepen Cooperation

Kuala Lumpur (ANTARA) - Bank Negara Malaysia (BNM) and Bank Indonesia (BI) signed a new memorandum of understanding (MoU) on Monday (11/5) to strengthen bilateral cooperation in promoting regional financial stability and sustainable economic growth, the two central banks stated. The MoU provides a comprehensive framework for collaboration in various central banking areas, including monetary policy, financial stability and macroprudential policy, payment systems and digitalisation, financial sector development, capacity-building initiatives, and information exchange, the two central banks outlined in a joint statement. The two central banks stated that the agreement will pave the way for a stronger and more synergistic partnership through ongoing cooperation in the agreed areas, aimed at supporting the prosperity of both economies. “This MoU reaffirms the long-standing partnership between BNM and BI. It also underscores our shared commitment to deepening collaboration in existing central banking areas while expanding cooperation to emerging areas of mutual interest,” said BNM Governor Abdul Rasheed Ghaffour. BI Governor Perry Warjiyo stated that the MoU is evidence of the ongoing spirit in strengthening institutional relations and deepening bilateral cooperation between the two central banks, especially amid the current challenging geopolitical landscape.