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Cambodia, Malaysia central banks sign deal for cross-border QR payment scheme

PHNOM PENH (XINHUA) – The central banks of Cambodia and Malaysia yesterday signed a memorandum of understanding (MoU) on cooperation in cross-border QR payment scheme and financial innovation, said a joint press statement.

The deal was inked in Malaysia’s Putrajaya City between National Bank of Cambodia (NBC) Governor Chea Serey and Bank Negara Malaysia (BNM) Governor Abdul Rasheed Ghaffour, the statement said.

Malaysian Prime Minister Anwar Ibrahim and visiting Cambodian Prime Minister Hun Manet witnessed the signing ceremony, it added.

“The MoU will promote closer cooperation between NBC and BNM to drive financial innovation and foster more efficient and secure cross-border payments for the benefit of individuals and businesses in both countries,” the statement said.

“This includes the linking of domestic payment systems in both countries to enable cross-border QR payments,” it added.

This cooperation also aims to encourage the use of local currency settlement and support the establishment of a cooperative oversight mechanism for safer cross-border payments, the statement said. Rasheed said the MoU demonstrates both countries’ commitment to enhance cross-border payment and local currency settlement.

Malaysian Prime Minister Anwar Ibrahim and visiting Cambodian Prime Minister Hun Manet witness the exchange of memorandum of understanding between National Bank of Cambodia (NBC) Governor Chea Serey and Bank Negara Malaysia (BNM) Governor Abdul Rasheed Ghaffour in Malaysia. PHOTO: BERNAMA
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