ASEAN Central Bank Launch Cross-Border Payments

Bank Indonesia together with 4 other ASEAN Central Bank agreed on cooperation in payment system, connectivity, which is expected to be an opportunity.

IDXChannel – Bank Indonesia together with 4 other ASEAN Central Bank agreed on cooperation in payment system, connectivity, which is expected to be an opportunity to increase the economy for 500 million people of ASEAN five countries. 

For this reason, Bank Indonesia together with Bank Negara Malaysia, Bangko Sentral Nang Philipinas, The Monetary Authority of Singapore and The Bank of Thailand, afreed to launch a cross-border payment system to support digital transformation in the region at the G20 Forum. 

Governor of Bank Indonesia Perry Warjiyo said, this collaboration was a stepping stone to pave way for stronger and more advanced cross border payment connectivity. 

Bilateral cooperation that has exsited so far will be expanded, through regional payment connectivity cooperation as an effort to strengthen regional economic intergration. 

Besides, the collaboration will open better opportunities for the development of SMES and the digital transformation needed for 500 million citizens in ASEAN five countries. 

"Watch our show IDX Channel Official Youtube on the Market Headlines Program, Tuesday (15/11/2022) with the theme ASEAN Central Bank Launch Cross-Border Payments. 

(DKH)