Malaysia, Cambodia to enhance collaboration in fintech

PETALING JAYA: The central banks of Malaysia and Cambodia have further reaffirmed the commitment to support the regional development and adoption of fintech in enhancing innovation, efficiency and effectiveness of the financial services sector.
In particular, both central banks agreed to enhance collaboration on the application of technology in financial inclusion. Both central banks will also explore the establishment 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.
Bank Negara Malaysia (BNM) and the National Bank of Cambodia held a bilateral meeting in Siem Reap today and discussed matters of mutual interest including regional central banking cooperation.
The meeting reinforced the long-standing tradition of cooperation, following the signing of two memoranda of understanding (MOU) between the central banks in 2010. Under this ambit, both central banks have subsequently engaged in various technical cooperation in the area of human capital development and cross-border banking supervision.

The meeting was jointly led by BNM governor Tan Sri Muhammad Ibrahim and governor Chea Chanto from the National Bank of Cambodia.
Both central banks discussed various issues of mutual interest, covering the progress and achievements of bilateral technical cooperation, recent economic and financial development, fintech regulation and development and central bank governance and structure.
Both institutions identified areas for future cooperation to further enhance the development of the financial sector towards the sustainable economic growth of Malaysia and Cambodia.