KUALA LUMPUR, Oct 12 (Bernama)-- Bank Negara Malaysia (BNM) and Banque de France have signed a memorandum of understanding (MOU) to promote greater cooperation in financial services between the two central banks.
KUALA LUMPUR, Oct 12 (Bernama)-- Bank Negara Malaysia (BNM) and Banque de France have signed a memorandum of understanding (MOU) to promote greater cooperation in financial services between the two central banks.
In a joint statement here Tuesday, the banks said the MOU reflected the commitment to cooperate towards the advancement of the Islamic finance industry in the both countries.
BNM governor, Tan Sri Dr Zeti Akhtar Aziz and governor of Banque de France, Christian Noyer, signed the MOU on the sidelines of the International Monetary Fund-World Bank annual meetings in Washington.
The statement said the MOU would pave the way for greater collaboration in strengthening the financial inter-linkages between the key financial centres.
"The MOU aims to foster long-term strategic developments in conventional and Islamic finance between Malaysia and France by focusing on three key areas," it said.
The areas are:
1)Enhancing the mutual cooperation on capacity building and human capital development in the financial services industry;
2)Facilitating and promoting the development of an effective and conducive financial market infrastructure; and,
3)Enhancing cross-border financial activities including promoting consistent application of cross-border Islamic financial transactions
Source: Bernama
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