Phnom Penh:The National Bank of Cambodia (NBC) and the Bank of Central African States have officially signed a Memorandum of Understanding (MoU) to establish a framework for enhanced bilateral cooperation. This strategic agreement was concluded on October 22 in Phnom Penh, marking a significant step forward for both institutions.
According to Agence Kampuchea Presse, the MoU was signed by NBC Governor H.E. Dr. Chea Serey and H.E. Yvon Sana Bangui, Governor of the Bank of Central African States. The signing followed bilateral discussions where the two sides exchanged views on the economic and financial situation and regional cooperation.
The agreement sets forth a priority action programme for 2027-2028, focusing on areas such as capacity building, digital transformation, financial inclusion, innovation, and cybersecurity. It also includes plans for supervision, modernization, and payment system connectivity. Both institutions have committed to holding regular meetings to assess the progress of the MoU's implementation.
Both Governors expressed their satisfaction with the agreement, emphasizing its role in promoting monetary and financial stability, fostering innovation, and enhancing financial inclusion. They believe the MoU will drive economic development in both the Kingdom of Cambodia and the Economic and Monetary Community of Central Africa (CEMAC).