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Bank Indonesia (BI) and Bank of Thailand (BoT) signed a Memorandum of Understanding (MoU) for payment system and financial innovation cooperation on Thursday, 4th April 2019 in Chiang Rai, Thailand.
The MoU signed by The Governor of Bank Indonesia, Perry Warjiyo and the Governor of Bank of Thailand, Veerathai Santiprabhob.
The Memorandum of Understanding is intended to strengthen payment system cooperation in order to achieve a secured, fast, efficient, and reliable payment system, to promote financial innovation, as well as to strengthen the implementation of Anti Money Laundering and Combating of the Financing of Terrorism framework in the respective markets. The cooperation is carried out in the form of policy dialogues, exchange of information, joint innovation and capacity building.
The signing of the MoU support the initiatives that the Government of Indonesia has carried out to become member of Financial Action Task Force on Money Laundering (FATF) and is Bank Indonesia’s commitment in combating money laundering and terrorism financing, as well as fulfilling recommendations and implementation guidelines of the FATF.
Governor of Bank Indonesia, Perry Warjiyo stated that, "This Memorandum of Understanding was signed in order to strengthen the implementation of central bank’s policies and address increasingly complex challenges in payment system activities in both countries. Indonesia and Thailand recognize the need for synergies and integrated policies in the context of payment system development, promoting financial innovation, and the implementation of Anti Money Laundering and Combating the Financing of Terrorism policies”. The BI – BOT MoU added to the number of MoU related to Anti Money Laundering and Combating the Financing of Terrorism, which have previously been signed between BI and Bangko Sentral Ng Pilipinas in 2018 and Bank Negara Malaysia in 2013.
Jakarta, 4th April 2019
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