AKP Phnom Penh, February 19, 2025 --

The National Bank of Cambodia (NBC) and the Central Bank of Madagascar reached here on Feb. 18 a Memorandum of Understanding (MoU) to establish a framework for cooperation between the two central banks.

The bilateral MoU was signed by H.E. Dr. Chea Serey, Governor of NBC, and Hon. Aivo H. Andrianarivelo, Governor of the Central Bank of Madagascar.

The signing ceremony was attended by senior officials from both central banks.

H.E. Dr. Chea Serey extended a warm welcome to the delegation from the Central Bank of Madagascar, who were interested in learning about the NBC’s operating system, especially the Bakong payment system.

She also highlighted the growing interest in Bakong system, noting that several countries have sought to learn about the experience of developing the Bakong system and connecting payment systems.

The NBC governor also expressed hope for future cross-border payment systems with Madagascar.

Hon. Aivo H. Andrianarivelo highly valued the development of the Cambodian economy and banking system, especially the payment system and the accumulation of international reserves.

He also expressed optimism about the cooperation with the NBC, which will bring mutual benefits in both economic and social aspects.

By Chea Vannak