By Ronnie Harui
The central banks of Indonesia and Singapore on Friday signed a memorandum of understanding to strengthen bilateral cooperation and deepen ties.
The MOU reflects Indonesia and Singapore's joint interest in promoting collaboration on projects related to payments innovation, and formalize cooperation across a wider range of central bank and regulatory functions, Bank Indonesia and Monetary Authority of Singapore said in a joint statement.
These functions include monetary policy, macroprudential policy and financial stability, oversight of the payment and settlement systems, regulatory and supervisory frameworks, and anti-money laundering and countering terrorism financing, the central banks said.
The cooperation envisaged under this MOU will be implemented via policy dialogue, exchange of information, technical cooperation, joint innovation and working-level committees, according to the statement.
Write to Ronnie Harui at ronnie.harui@wsj.com
(END) Dow Jones Newswires
01-21-22 0349ET
