Kathmandu, June 25

Governors of the central banks of the SAARC member states, Myanmar and Iran will meet in Kathmandu this week to discuss on a wide range of issues to strengthen cooperation, coordination and transparency in the financial system.

The SAARC governors’ symposium will begin on June 27 and end on June 28 and there will also be a meeting of the Asian Clearing Union led by the governors of the SAARC countries, Myanmar and Iran on June 29.

The meeting will discuss strengthening cooperation in cyber security and promoting domestic currency for payment of trade within the region, which will be settled in a convertible currency on an annual basis among the member states, according to Bhisma Raj Dhungana, executive director of the Foreign Exchange Management Department of Nepal Rastra Bank.

This round of meeting is the 47th meeting of Asian Clearing Union and 36th meeting of the SAARC governors. The meeting is organised on a rotation basis among the member nations and the last meeting was held in Sri Lanka.