No. 24/55/DKom
Governor
of Bank Indonesia (BI), Perry Warjiyo and Governor of Bank of Korea (BOK),
Juyeol Lee today signed a Memorandum of Understanding (MoU) to formalize a
closer cooperation between the two central banks in the area of central banking,
including payment systems and digital financial innovation. The MoU is signed
in counterpart on February 16th, 2022, just one day before the G20
Finance Ministers and Central Bank Governors Meeting.
The
MoU aims to provide a more structured and systematic framework for cooperation
as well as to facilitate a closer collaboration between BI and BOK in the area
of monetary and macroprudential policy, financial system stability, payment and
settlement system, as well as other areas of central banking. The coverage of
cooperation on payment and settlement systems in particular includes the cross
border and digital payment area which would enable a joint-work in payment
systems development and innovation, including market infrastructures.
Both
central banks are expected to actively engage in collaborative activities such
as policy dialogue, technical discussion, capacity building, joint research and
other relevant forms of cooperation. Going forward, the cooperation also
provides a strong framework on partnership in responding to the future
challenges and in embarking in various innovations.
Governor
of Bank Indonesia underlines the significance of the MoU that truly reflects
greater cooperation between the two central banks. In addition, the expanded
international cooperation will present more international collaboration
platforms for BI.
BI
continues its extraordinary efforts to strengthen and expand cooperation with
its strategic international partners. Such cooperation becomes an integral part
of BI’s contribution to the national economy while also serves as an important
deliverable in line with the spirit of the 2022 Indonesia G20 Presidency.
Jakarta, 16th February 2022
Head of Communication Department
Erwin Haryono
Executive Director
Information on Bank Indonesia
Tel. 021-131, email: bicara@bi.go.id
