At G20 Summit, Five Central Banks Sign Agreements For Cross-Border Payments
NDTV
The regional payment connectivity is expected to be a significant contributor to accelerating economic recovery and promoting inclusive growth.
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.
A Memorandum of Understanding (MOU) on Cooperation in Regional Payment Connectivity was signed on Monday in Bali, Indonesia, on the sidelines of the G20 Leaders' Summit, Singaporean central bank Monetary Authority of Singapore said in a statement.
At the MoU signing ceremony, Indonesia's President Joko Widodo emphasised the importance of concrete joint collaborative action in addressing global challenges.
The President also expressed his highest appreciation to the Governors of the five central banks for their commitment to delivering innovative breakthroughs that will further accelerate regional payment connectivity, the statement added.
