The Hong Kong Monetary Authority and the Central Bank of Turkey signed a Memorandum of Understanding on Financial Innovation Cooperation to strengthen financial innovation cooperation.

On June 30, the Hong Kong Monetary Authority (HKMA) and the Central Bank of the Republic of Turkey (CBRT) announced the signing of a Memorandum of Understanding to enhance cooperation in the field of financial innovation and promote the development of a technologically advanced and inclusive financial landscape. Both the HKMA and CBRT are committed to advancing financial technology in their respective markets. The memorandum establishes a formal framework for cooperation, aiming to facilitate information exchange and explore potential collaboration opportunities in innovative projects. By strengthening collaboration on emerging technologies and financial services innovation, this memorandum will further solidify the strategic partnership between Hong Kong and Turkey. Eddie Yue, Chief Executive of the HKMA, said, "The HKMA is dedicated to expanding international financial technology partnerships, and we are delighted to enhance cooperation with the Central Bank of the Republic of Turkey. This Memorandum of Understanding lays a solid foundation for mutual exchange of insights and expertise, and we look forward to building a vibrant, innovation-led future for Hong Kong and Turkey together." Fatih Karahan, Governor of the CBRT, stated, "In today's rapidly changing financial technology landscape, we are pleased to collaborate with the HKMA to advance our common goals. This Memorandum of Understanding marks an important step towards deepening bilateral relations, and reflects our commitment to promoting an active, technologically advanced, and inclusive financial landscape."