This MoU is an important milestone for the relationship between BI and the Reserve Bank of India. It has been a long time since the two central banks worked together, and this MoU will confirm a more solid collaboration in the futureBadung, Bali (ANTARA) - Bank Indonesia (BI) and the Reserve Bank of India (RBI) agreed to expand payments system cooperation and strengthen information exchange in the field of central banking, including on payments systems, digital financial innovation, and regulatory frameworks.
They also expanded cooperation on supervision within the Anti-Money Laundering and Prevention of Terrorism Financing (APU-PPT) framework.
The expansion of cooperation was carried out through the signing of a memorandum of understanding (MoU) on the sidelines of the third G20 Finance Ministers and Central Bank Governors (FMCBG) Meeting in Nusa Dua, here on Saturday.
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“This MoU is an important milestone for the relationship between BI and the Reserve Bank of India. It has been a long time since the two central banks worked together, and this MoU will confirm a more solid collaboration in the future," BI Governor Perry Warjiyo said in an official statement.
In the future, this relationship will result in beneficial achievements for the two central banks and the people of the two countries, he added.
The signing of the MoU was carried out by BI Deputy Governor Dody Budi Waluyo and RBI Deputy Governor Michael Debabrata Patra, and was witnessed by BI Governor Perry Warjiyo and RBI Governor Shaktikanta Das.
The MoU provides a good foundation for the two parties to foster mutual understanding, develop efficient payments systems, and expand cross-border payment connectivity, Warjiyo said.
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These initiatives will be implemented through regular interactions discussing the latest economic and financial developments and issues, technical cooperation through joint training and seminars, and cooperation to explore cross-border retail payments system connectivity.
On the same occasion, RBI Governor Shaktikanta Das lauded Indonesia's hospitality and warm welcome in organizing the G20 FMCBG.
“The importance of cooperation in various fields considering the common goals and challenges that the two central banks face. This MoU is a step forward to implement joint efforts into a formal form," he said.
Das also expressed the hope that the MoU would further strengthen bilateral relations between the two central banks and support efforts to achieve an accessible, inclusive, and secure financial system.
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Translator: Agatha Olivia V, Resinta S
Editor: Fardah Assegaf
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