The Macau Monetary Authority (AMCM) has announced the signing of a new agreement with the Bank of Cabo Verde (BCV) to “deepen cooperation” in the field of financial supervision. The protocol was formalized on Thursday, October 2, during the 12th Meeting of Governors of the Central Banks of Portuguese-Speaking Countries, held in Praia, Cabo Verde.
According to the AMCM, the agreement establishes as priority areas the fight against money laundering and the financing of terrorism, as well as technical cooperation and professional training. The main goal is to strengthen prudential supervision and consolidate the institutional framework between the two entities.
A statement cited by Lusa adds that the document also provides for joint supervision and the exchange of information on emerging financial services, with the aim of safeguarding the security and stability of both financial systems. The initiative further seeks to strengthen trust and transparency in the markets of Macau and Cabo Verde.
The AMCM emphasized that this protocol represents a significant step forward in deepening cooperation and exchange in the field of financial supervision. The regulator also highlighted that the partnership creates a stronger foundation for addressing common challenges in the sector.
The meeting was held behind closed doors and attended by governors and representatives of the central banks of Angola, Brazil, Cabo Verde, Guinea-Bissau, Equatorial Guinea, Mozambique, Portugal, São Tomé and Príncipe, and Timor-Leste. The Central Bank of West African States and the Bank of Central African States also participated.
Cooperation between Macau and Cabo Verde in this area already has a long history. The first cooperation and technical assistance agreement was signed in 1999. More recently, in September 2024, during the Conference of Central Bank Governors and Financial Sector Officials between China and Portuguese-Speaking Countries, held in Macau, the protocol’s update was announced.
With this new step, the AMCM now has 12 bilateral cooperation agreements signed with financial supervisory authorities from eight Portuguese-speaking countries. The regulators of Macau and Cabo Verde thus consolidate their partnership, strengthening supervisory mechanisms and the exchange of technical knowledge.
Source: Diário Económico
