BSP, OJK sign pact

Otoritas Jasa Keuangan (Financial Services Authority of Indonesia [OJK]) and Bangko Sentral ng Pilipinas (BSP) signed the Memorandum of Understanding (MOU) Concerning Consultation, Cooperation and the Exchange of Information on 1 September 2020.

The MOU aims to provide a framework for dialogue and cooperation between the OJK and BSP to discuss initiatives and promote the development of sound financial regulatory mechanisms in both jurisdictions.

The document was signed by Dr. Benjamin E. Diokno, Governor of Bangko Sentral ng Pilipinas and Dr. Wimboh Santoso, Chairman of Otoritas Jasa Keuangan.
Following the MOU signing, the OJK and BSP held a virtual bilateral meeting and discussed policy responses to COVID-19 and strengthening supervisory cooperation.

At the end of the meeting, both institutions expressed their commitment to strengthen bilateral cooperation in further enhancing mutual economic and financial system development.