People go past the State Bank building, near the offices of Vietcombank and the Bank for Investment and Development of Vietnam, in central Hanoi, Vietnam November 23, 2017.
REUTERS/Kham Acquire Licensing RightsJAKARTA, Aug 25 (Reuters) - Vietnam's central bank signed an agreement on Friday to be part of an initiative by five other Southeast Asian countries to establish a cross-border payments mechanisms between them.
Vietnam will join Indonesia, Malaysia, Thailand, the Philippines and Singapore in working to connect each of their payment systems, including using the QR (quick response) code system for retail transactions.
The agreement was made at a meeting of the 10-member Association of Southeast Asian Nations (ASEAN) finance ministers and central bank governors in Jakarta.
Furthermore, Indonesia, Malaysia and Thailand have agreed to later facilitate cross-border transactions for financial assets like equities and government bonds in local currencies.
Persons:
Perry Warjiyo, Stefanno Sulaiman, Martin Petty
Organizations:
Bank, Bank for Investment, Development, REUTERS, Rights, QR, Association of Southeast Asian Nations, ASEAN, Bank Indonesia, Thomson
Locations:
Vietcombank, Vietnam, Hanoi, Rights JAKARTA, Indonesia, Malaysia, Thailand, Philippines, Singapore, Jakarta