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The Central Bank of Timor-Leste (BCTL) and the National Bank of Cambodia (NBC) signed a memorandum of understanding on Monday, July 22, 2024, to jointly strengthen the technical skills of their technical staff in operating banks, payment networks, digital innovation, regulatory procedures, financial environment and human capital.
The event was the first bilateral meeting between the two central banks, attended by NBC Governor Chea Serey and BCTL Governor Hélder Lopes, and was held at the Sofitel Hotel in Phnom Penh, Cambodia. During the meeting, the two governors discussed and exchanged views on the economic situation, monetary policy and banking development in the two countries.
The governors shared their experiences and strategies with the aim of achieving mutual benefits for both central banks. The first bilateral meeting was aimed at promoting the development of the national banking sector in Timor-Leste and Cambodia. The initiative aims to strengthen central bank operational cooperation, integrate payment connectivity, promote digital financial innovation, ensure banking supervision, diversify the financial environment, and develop human resources in the field.
The two banks’ technical teams will strengthen cooperation by regularly exchanging views, sharing economic and financial related information and data, as well as technical experience and knowledge. The two governors also agreed to hold annual meetings and pledged to continue to comprehensively strengthen and expand financial cooperation to achieve significant results.
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