Friday, 19 December 2008

Vietnam, Cambodia promote banking cooperation

VOV News

The central banks of Vietnam and Cambodia have signed a memorandum of understanding (MoU) on the exchange of information related to banking services supervision.

The MoU, signed on Dec. 17 during a week-long working visit to Vietnam by a delegation from the National Bank of Cambodia, is regarded as a legal basis for tighter management to help commercial banks operate more effectively and safely during their process of international integration.

The same day, the Cambodian delegation, led by Governor Chea Chanto, held a working session with officials from the State Bank of Vietnam led by Governor Nguyen Van Giau.

They compared notes on the economic situation in their respective countries, and the two banks’ current operations.

The Cambodian delegation is scheduled to meet with Prime Minister Nguyen Tan Dung. They will then pay a visit to several Vietnamese banks, including the Bank for Agriculture and Rural Development (Agribank), the Bank for Investment and Development of Vietnam (BIDV), and the Sai Gon Thuong Tin Commercial Joint-stock Bank.

Following the signing of an agreement on cooperation the two sides have regularly exchanged information and experiences, particularly since Vietnam joined the World Trade Organisation (WTO) in 2006.

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