money

Malaysia, Cambodia central banks to link ATM network

Bank Negara Malaysia and the National Bank of Cambodia are looking to set up a link between the ATM networks in both countries. — Picture by Yusof Mat IsaBank Negara Malaysia and the National Bank of Cambodia are looking to set up a link between the ATM networks in both countries. — Picture by Yusof Mat IsaKUALA LUMPUR, Feb 2 ― Bank Negara Malaysia (BNM) and the National Bank of Cambodia will explore the setting up of a link between the national automated teller machine (ATM) networks in both countries to facilitate efficient cross-border ATM cash withdrawals and retail payments.

In a statement today, BNM said both central banks also agreed to enhance collaboration on the application of technology in financial inclusion.

BNM and National Bank of Cambodia held a bilateral meeting in Siem Reap today, to discuss matters of mutual interest, including regional central banking cooperation.

The meeting was jointly led by BNM Governor Tan Sri Muhammad Ibrahim and National Bank of Cambodia Governor Chea Chanto.

BNM said the two central banks discussed various issues of mutual interest, covering the progress and achievements of bilateral technical cooperation, recent economic and financial development, financial technology (fintech) regulation and development, and central bank governance and structure.

It said that capitalising on the fintech momentum, the central bank governors reaffirmed their commitment to support its regional development and adoption in enhancing innovation, efficiency and effectiveness of the financial services sector.

“The meeting reinforced the longstanding tradition of cooperation, following the signing of two memoranda of understanding between the central banks in 2010.

“Following the pacts, the two central banks have subsequently engaged in various technical cooperation in the area of human capital development and cross-border banking supervision,” it said.

At the end of the meeting, the central banks identified areas for future cooperation to further enhance the development of the financial sector towards the sustainable economic growth of both Malaysia and Cambodia. ― Bernama

MORE ON MMOTV