The Bangko Sentral ng Pilipinas and Bank Indonesia signed Feb. 1 a memorandum of understanding that will strengthen cooperation in the area of payment systems and digital financial innovation.
The BSP said in a statement Monday the agreement aimed “to provide a framework for closer cooperation between the two central banks to achieve a more secure, efficient, and reliable payment system, and to promote digital financial innovation.”
The document was signed by BSP Governor Benjamin Diokno and Governor Perry Warjiyo of Bank Indonesia.
The signing was held to conclude a bilateral meeting between the two central banks, which discussed numerous advances in digital economy and central banking, infrastructure financing using market instruments, and sustainable financing frameworks.
At the end of the meeting, both central banks expressed their commitment to strengthen bilateral cooperation in further enhancing mutual economic and financial system development.