Synergy of Bank of England and ASEAN central banks in payment system development

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No. 25/59/DKom

As part of the Indonesian ASEAN Chairmanship 2023 round, Bank Indonesia (BI) together bank of england (BOE) organizes BI-BOE ASEAN Central Banks Workshop on Improving Real-Time Gross Settlement (RTGS), Integration of cross-border payment systems and exploration of central bank digital currencies (CBDC) from March 8 to 10 in a hybrid way in Jakarta. This activity is supported by close collaboration with ASEAN central banks, namely Bank Negara Malaysia (BNM), Bangko Sentral of the Philippines (BSP), Monetary Authority of Singapore (MAS), And Bank of Thailand (BOT). Workshops This was implemented as a form of central bank synergy echoing efforts to follow up on one of the G20 priority agendas related to the “Financial Sector and Payments System in the Digital Age” which has been reduced To Priority economic deliverables (PED) Indonesian ASEAN Chair 2023. Implementation workshops It is also one of the achievements of the cooperation program Structured bilateral cooperation (SBC) BI-BOE which has been ongoing since 2019 with support from the Foreign, Commonwealth and Development Office, UK.

Through this forum, central banks share their experiences in developing payments connectivity and digital finance to support inclusive economic growth. Topics covered over three days workshops This includes current issues related to payment systems and financial digitization globally and regionally, including the latest RTGS innovations and developments, the development of CBDCs in several countries, including the selection of CBDCs and supporting technologies of CBDC from a political point of view, as well as cross-border payments.

Workshop activity featured Rudi B. Hutabarat, Head of International Department, Owen Jenkins, British Ambassador, Victoria Cleland, Executive Director, BOE, and guest speakers from BOE, BI and other ASEAN Central Banks5 , namely MAS, BOT, BSP and BNM, Reserve Bank of India, BIS Innovation Hub London and Finmark Trust.

Jakarta, March 8, 2023

Communications Department

Fadjar Majardi

Director

Information about Bank Indonesia

Tel.021-131, e-mail: [email protected]

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