Phnom Penh:The National Bank of Cambodia (NBC) and the Bank of Central African States have agreed to a Memorandum of Understanding (MoU) aimed at establishing a framework for bilateral cooperation.

According to Agence Kampuchea Presse, the MoU was signed on October 22 in Phnom Penh by NBC Governor H.E. Dr. Chea Serey and H.E. Yvon Sana Bangui, Governor of the Bank of Central African States. This signing followed discussions between the two parties on economic and financial conditions, along with regional cooperation.

The strategic agreement includes a priority action programme for 2027-2028, focusing on capacity building, digital transformation, financial inclusion, innovation, cybersecurity, and enhancing supervision, modernisation, and payment system connectivity. The two central banks are set to hold regular meetings to evaluate the MoU's implementation progress.

Both governors expressed satisfaction with the MoU, noting its potential to enhance monetary and financial stability, innovation, and financial inclusion, while also supporting economic growth in Cambodia and the Economic and Monetary Community of Central Africa (CEMAC).