Singapore, Indonesia cenbanks sign MoU to expand cooperation

SINGAPORE (Reuters) - Bank Indonesia (BI) and the Monetary Authority of Singapore have signed memorandum of understanding to strengthen bilateral cooperation and deepen ties, the two central banks said in a joint statement on Friday.

The MOU reflects their interest to promote collaboration on projects related to payments innovation, and formalise cooperation across an expanded range of functions, including monetary policy, oversight of the payment and settlement systems, and anti-money laundering and countering the financing of terrorism.

(Reporting by Aradhana Aravindan in Singapore; Editing by Ed Davies)