BNM And Bank Indonesia Sign New MoU To Deepen Bilateral Central Banking Cooperation
PETALING JAYA: Bank Negara Malaysia and Bank Indonesia have signed a new memorandum of understanding (MoU) aimed at strengthening bilateral cooperation across multiple strategic areas involving central banking and regional financial development.
In a joint statement released today, both central banks said the MoU will serve as a comprehensive framework to guide deeper collaboration between Malaysia and Indonesia in several key sectors.
The areas covered include monetary policy, financial stability, macroprudential policy, payment systems, financial digitalisation, financial sector development, information sharing and institutional capacity building.
Abdul Rasheed Ghaffour said the agreement further reinforces the long-standing relationship between Bank Negara Malaysia and Bank Indonesia.
According to him, the new MoU not only deepens existing cooperation but also opens opportunities for collaboration in new areas of mutual interest.
“The MoU reaffirms our shared commitment to strengthen cooperation in existing central banking areas while expanding collaboration into new fields of common interest,” he said.
Meanwhile, Perry Warjiyo, governor of Bank Indonesia, described the agreement as an important milestone in strengthening the long-term institutional relationship between the two regional financial authorities.
He said the MoU goes beyond a symbolic commitment and reflects the continued determination of both institutions to deepen bilateral cooperation.
According to him, stronger collaboration between central banks is becoming increasingly important as the global economy faces rising geopolitical uncertainty and more complex economic challenges.
“This MoU reflects the enduring spirit to strengthen institutional ties and deepen bilateral cooperation, particularly amid today’s challenging geopolitical environment,” he said.
Both central banks added that the signing of the agreement marks a new chapter toward more integrated cooperation across various financial and economic sectors.
They also reaffirmed their commitment to continue working together in mutually agreed areas to support stronger economic resilience and sustainable financial development in both countries.
Economic ties between Malaysia and Indonesia have continued to expand across multiple sectors including trade, investment, cross-border payment systems and regional financial integration.
Closer cooperation between the two central banks is expected to strengthen regional financial stability while improving the efficiency of digital payment systems and cross-border fund transfers.
The partnership is also viewed as important in addressing global challenges such as financial market volatility, inflationary pressures, currency fluctuations and the rapidly evolving digital economy landscape.
The MoU further reflects ongoing efforts by ASEAN countries to strengthen regional economic and financial integration through cooperation among major financial institutions.
In addition, institutional capacity building and knowledge sharing between the two central banks are expected to support faster development of financial technology and digital innovation in both Malaysia and Indonesia.
With digital payments and cross-border transactions continuing to grow across the region, cooperation between Bank Negara Malaysia and Bank Indonesia is expected to play an increasingly important role in supporting ASEAN’s future digital economic growth.
-wilayah.com.my
