AMCM Partners with Angola and Cape Verde to Modernize Payment Systems
The Monetary Authority of Macao (AMCM) has strengthened its collaboration with the National Bank of Angola (BNA) and the Bank of Cape Verde (BCV) through bilateral meetings focused on optimizing payment systems. Held on December 12-13, 2024, in Macau, the sessions were led by Governors Manuel António Tiago Dias (BNA) and Antónia Lopes (BCV).
AMCM showcased its instant payment infrastructure, which supports transactions in Macanese pataca (MOP), Hong Kong dollar (HKD), and Chinese renminbi (RMB). Discussions focused on improving payment channels, standardizing message formats, and enhancing cross-border interoperability to increase efficiency.
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Strengthening Ties with Angola and Cape Verde
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AMCM's relationship with BNA and BCV builds on years of cooperation. Initial agreements were signed in 1999 and 2022, facilitating technical exchanges. In September 2024, AMCM renewed its Cooperation Agreement with BCV, expanding the partnership to include financial supervision and reserve management. The recent meetings represent concrete progress in implementing these agreements, advancing shared priorities for payment system modernization.
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Bridging China and Portuguese-speaking Nations
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As part of Macau's “1+4” strategy for economic diversification, AMCM is committed to developing the city as a financial bridge between China and Portuguese-speaking nations. By sharing its expertise and technological advancements, AMCM is supporting Angola and Cape Verde in modernizing financial systems, reducing transaction costs, and enhancing regional economic integration.
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Driving Digital Innovation
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Macau's recent introduction of the digital Macanese pataca (e-MOP) prototype demonstrates its leadership in central bank digital currencies. Offering both “hard” and “soft” wallet options, the e-MOP enables secure, efficient digital transactions, aligning with global trends in financial innovation.
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Looking Ahead
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AMCM's partnerships with Angola and Cape Verde reflect a shared vision for financial modernization and economic growth. By fostering international collaboration and driving technological advancements, AMCM is helping pave the way for stronger financial connectivity and a more integrated global economy.
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