Dili: The National Bank of Cambodia (NBC) and the Central Bank of Timor-Leste have signed a Memorandum of Understanding (MoU) to enhance bilateral cooperation in digital payment systems and cross-border payment connectivity.

According to Agence Kampuchea Presse, the MoU was signed in Dili by H.E. Dr. Chea Serey, Governor of the NBC, and H.E. Helder Lopes, Governor of the Central Bank of Timor-Leste. The signing was part of the launch event for Timor-Leste's fast payment system, attended by H.E. Jos© Ramos-Horta, President of the Democratic Republic of Timor-Leste, and H.E. Kay Rala Xanana Gusmo, Prime Minister of Timor-Leste.

The agreement aims to establish a framework for strengthening cooperation in areas such as digital payments, financial innovation, and financial connectivity between the two nations. As outlined by NBC in a press statement issued on September 14, the two central banks will collaborate by exchanging information, knowledge, and experiences, as well as through research and training initiatives.

The cooperation is also intended to facilitate the settlement of transactions in domestic currencies, which is expected to support trade and investment activities between Cambodia and Timor-Leste. During a working meeting in Dili, the central banks discussed the implementation of existing cooperation and identified areas for further development within the framework of future collaboration.

The meeting was part of the ongoing collaboration framework established by an MoU signed by the two central banks in Cambodia in 2024, which includes an agreement to host an annual bilateral meeting in turn.