On 10 October 2010, Bank Negara Malaysia and Banque de France signed a Memorandum of Understanding (MoU) to promote greater cooperation in the area of financial services between the two central banks. The signing of this MoU also reflects the commitment to cooperate towards the advancement of the Islamic finance industry in France and Malaysia. The MoU was signed by Tan Sri Dr. Zeti Akhtar Aziz, Governor of Bank Negara Malaysia and H.E. Mr. Christian Noyer, Governor of Banque de France at the side of the IMF-World Bank Annual Meetings in Washington D.C.
The MoU aims to foster long-term strategic developments in conventional and Islamic finance between Malaysia and France, focusing on three key areas:
- enhancing mutual cooperation on capacity building and human capital development in the financial services industry;
- facilitating and promoting the development of an effective and conducive financial market infrastructure; and
- enhancing cross-border financial activities including promoting consistent application of cross-border Islamic financial transactions.
The implementation of this MoU would pave ways for greater collaboration in strengthening the financial inter-linkages between these two key financial centres.