Signing of a memorandum of understanding between Macao and Angola allows for the strengthening of cooperation in the area of supervision

At the beginning of the month, the Monetary Authority of Macao and the National Bank of Angola signed a memorandum of understanding to strengthen cooperation and exchanges between the two parties in financial supervision.

Through the signing of the “Memorandum of cooperation”, the cooperation framework between the two parties was defined in matters of financial supervision cooperation, information exchange, crisis management and personnel exchange, among others, in order to jointly maintenance the stable functioning of the financial institutions of the two jurisdictions, within the framework of a sound financial supervision cooperation mechanism.

The Monetary Authority of Macao believes that the cooperation will strengthen articulation with the central banks of Portuguese-speaking countries, promote multilateral cooperation between SAR of Macao and Portuguese-speaking countries, and consolidate Macau’s role as a platform for the provision of services.