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National bank of Cambodia (NBC) governor Chea Serey (right) and her Malagasy counterpart Aivo H. Andrianarivelo sign the MoU on February 18. NBC
The National Bank of Cambodia (NBC) and the Central Bank of Madagascar signed a memorandum of understanding (MoU) in Phnom Penh on February 18. The new agreement will see a cooperative framework established between the central banks of the two countries.
The MoU was signed by Chea Serey, the governor of the National Bank of Cambodia, and her Malagasy counterpart Aivo H. Andrianarivelo.
During the signing ceremony, Andrianarivelo praised Cambodia’s economic development and banking systems. He especially valued its banking payment framework, as well as its foreign exchange reserves.
He expressed optimism about the new cooperation with the NBC, sharing his belief that it will provide mutual benefits in both economic and social aspects for both countries.
Serey offered a warm welcome to the Central Bank of Madagascar delegation and expressed her appreciation for their interest in studying Cambodia’s central banking operations, particularly its banking payment systems. She also shared her strong commitment to further improving bilateral cooperation.
She informed the Malagasy side that many countries have studied Cambodia’s experience in developing its banking system and connecting payment systems with other countries.
She expressed hope that a cross-border payment system will be established with Madagascar in the near future.