The National Bank of Cambodia and the Central Bank of Madagascar signed an MoU on February 18 in Phnom Penh, promoting cooperation to enhance both economic and social relations. The agreement highlights knowledge sharing in banking systems and prospects for establishing a cross-border payment system.
On February 18, the National Bank of Cambodia (NBC) and the Central Bank of Madagascar signed a memorandum of understanding (MoU) in Phnom Penh, establishing a cooperative framework between the two institutions. Governor Chea Serey represented NBC, while Governor Aivo H. Andrianarivelo signed for Madagascar. This MoU aims to strengthen collaboration and enhance economic and social benefits for both countries.
During the signing ceremony, Governor Andrianarivelo commended Cambodia’s progress in economic development, particularly its banking sector and payment frameworks. He highlighted the importance of foreign exchange reserves, expressing optimism regarding the potential advantages of this new partnership with NBC. Both governors anticipate mutual enrichment through knowledge sharing and collaborative projects.
Governor Serey extended a warm welcome to the Malagasy delegation, acknowledging their intent to learn from Cambodia’s central banking practices. She emphasized her commitment to enhancing bilateral cooperation and mentioned that many nations have drawn insights from Cambodia’s banking developments. Serey expressed the aspiration of implementing a cross-border payment system with Madagascar soon.
The signing of the MoU between the National Bank of Cambodia and the Central Bank of Madagascar marks a significant step towards fostering bilateral cooperation. It indicates a mutual interest in banking system improvements and cross-border payment facilitation. Both central banks aim for collaborative growth that will benefit economic and social dimensions in their respective nations.
Original Source: www.phnompenhpost.com
