5 central banks agree on more inclusive cross-border payments.
Bank Indonesia, Bank Negara Malaysia, Bangko Sentral ng Pilipinas, Monetary Authority of Singapore, and Bank of Thailand have agreed to strengthen and enhance cooperation on more inclusive cross-border payments.
At the MoU signing ceremony, Indonesia's President Joko Widodo emphasised the importance of concrete joint collaborative action in addressing global challenges.
This regional payment connectivity is expected to be a significant contributor to accelerating regional economic recovery and promoting inclusive growth.
The statement added the payment cooperation initiative is also in line with Indonesia's G20 Presidency priority agenda in the area of digital transformation, including through payment systems in the digital era, manifested by the joint efforts to pursue enhanced cross-border payment connectivity involving Indonesia, Malaysia, Philippines, Singapore, and Thailand.
Source: NDTV
#Indonesia