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This MoU is a vital milestone for the connection between BI and the Reserve Financial institution of India. It has been a very long time because the two central banks labored collectively, and this MoU will verify a extra stable collaboration sooner or later
Badung, Bali (ANTARA) – Financial institution Indonesia (BI) and the Reserve Financial institution of India (RBI) agreed to increase funds system cooperation and strengthen info alternate within the subject of central banking, together with on funds methods, digital monetary innovation, and regulatory frameworks.
In addition they expanded cooperation on supervision throughout the Anti-Cash Laundering and Prevention of Terrorism Financing (APU-PPT) framework.
The growth of cooperation was carried out by means of the signing of a memorandum of understanding (MoU) on the sidelines of the third G20 Finance Ministers and Central Financial institution Governors (FMCBG) Assembly in Nusa Dua, right here on Saturday.
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“This MoU is a vital milestone for the connection between BI and the Reserve Financial institution of India. It has been a very long time because the two central banks labored collectively, and this MoU will verify a extra stable collaboration sooner or later,” BI Governor Perry Warjiyo stated in an official assertion.
Sooner or later, this relationship will lead to useful achievements for the 2 central banks and the folks of the 2 nations, he added.
The signing of the MoU was carried out by BI Deputy Governor Dody Budi Waluyo and RBI Deputy Governor Michael Debabrata Patra, and was witnessed by BI Governor Perry Warjiyo and RBI Governor Shaktikanta Das.
The MoU gives basis for the 2 events to foster mutual understanding, develop environment friendly funds methods, and increase cross-border cost connectivity, Warjiyo stated.
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These initiatives will probably be carried out by means of common interactions discussing the newest financial and monetary developments and points, technical cooperation by means of joint coaching and seminars, and cooperation to discover cross-border retail funds system connectivity.
On the identical event, RBI Governor Shaktikanta Das lauded Indonesia’s hospitality and heat welcome in organizing the G20 FMCBG.
“The significance of cooperation in numerous fields contemplating the frequent targets and challenges that the 2 central banks face. This MoU is a step ahead to implement joint efforts into a proper kind,” he stated.
Das additionally expressed the hope that the MoU would additional strengthen bilateral relations between the 2 central banks and help efforts to attain an accessible, inclusive, and safe monetary system.
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