Indonesia, Timor Leste central banks strengthen payment cooperation
Photo caption: Bank Indonesia Governor Destry Damayanti displays a memorandum of understanding signed with Helder Lopes, governor of the central bank of Timor-Leste, in Jakarta on Friday (Sept. 25, 2026). (ANTARA/Rizka Khaerunnisa)
Jakarta (ANTARA) - Bank Indonesia (BI) and Banco Central de Timor-Leste (BCTL) signed a memorandum of understanding (MoU), laying the groundwork for stronger cooperation between the central banks of Indonesia and Timor-Leste in payment innovation.
BI Governor Destry Damayanti signed the MoU with BCTL Governor Hélder Lopes on Friday during the Indonesia Digital Economy and Finance Festival, held alongside the Indonesia Fintech Summit and Expo 2026 in Jakarta.
Executive Director of BI's Communication Department Ramdan Denny Prakoso said in a statement that the MoU reflects the two central banks' shared commitment to expanding bilateral cooperation in payment and settlement systems while fostering innovation in the digital finance sector.
He noted that the partnership would encompass information exchanges and other initiatives designed to step up collaboration between the two monetary authorities.
BI views the MoU as paving the way for closer payment connectivity between Indonesia and Timor Leste, including potential cross-border use of the QRIS payment system, he added.
Prakoso expressed hope that closer cooperation between BI and BCTL would facilitate transactions and economic activity while supporting a payment ecosystem that is more convenient, efficient, inclusive, and secure for both countries.
The MoU followed a similar document signed by BI and the Hong Kong Monetary Authority (HKMA). BI Governor Destry and HKMA Chief Executive Eddie Yue signed the document on Thursday (Sept. 24).
The BI-HKMA MoU provides a framework for bilateral discussions on technical, operational, and regulatory matters, as well as efforts to explore mechanisms that could facilitate QR code-based payments across the two jurisdictions.
