JAKARTA - Bank Indonesia (BI) and the Reserve Bank of India (RBI) signed a Memorandum of Understanding (MoU) on July 16, 2022 in Bali, Indonesia, on the sidelines of the G20 Finance Ministers and Central Bank Governors Meeting to enhance cooperation between the two banks. central. The signing of the MoU was carried out by BI Deputy Governor Dody Budi Waluyo and RBI Deputy Governor Michael Debabrata Patra, witnessed by BI Governor Perry Warjiyo and RBI Governor Shaktikanta Das.
With this MoU, BI and RBI are committed to deepening the relationship between the two central banks and strengthening information exchange and cooperation in the field of central banking, including payment systems, digital financial innovation, and regulatory and supervisory frameworks within the Anti-Money Laundering and Prevention of Terrorism Financing (APU-Terrorism) framework. PPT). The MoU will be implemented through policy dialogue, technical cooperation, information exchange and joint initiation.
Governor Perry Warjiyo emphasized, “This MoU is an important milestone in the relationship between Bank Indonesia and the Reserve Bank of India. It has been a long time since the two central banks worked together, and this MoU will underscore even more solid collaborations in the future. Going forward, I am confident that this excellent relationship will result in beneficial outcomes for the two central banks and the people of both countries.”
This MoU provides a good foundation to foster mutual understanding, develop efficient payment systems and expand cross-border payment connectivity. These initiatives will be implemented through (i) regular interactions discussing the latest economic and financial developments and issues; (ii) technical cooperation through joint training and seminars; and (iii) cooperation to explore cross-border retail payment system connectivity. (LM)