BSP, Royal Canadian Mint Ink Currency Management Deal

The Bangko Sentral ng Pilipinas (BSP) and the Royal Canadian Mint (RCM) have signed a memorandum of understanding (MOU) to enhance cooperation in currency management and gold refining.

BSP Governor Eli M. Remolona Jr. and RCM President and CEO Marie Lemay formalized the agreement during an online signing ceremony on Jan. 22, 2025. Governor Remolona signed the MOU from the BSP headquarters in Manila, while President Lemay participated from the RCM headquarters in Ottawa.

The five-year collaboration aims to strengthen BSP-RCM cooperation, focusing on sustainability practices, cost-efficient currency production, gold processing operations, and commemorative coin production.

The agreement also covers key areas such as technology exchange, staff training and development, and knowledge-sharing on best practices and technical expertise.

BSP Deputy Governor Mamerto E. Tangonan and Assistant Governor Mary Anne P. Lim joined the virtual ceremony, alongside BSP Acting General Counsel Asma A. Panda and Director Erizelle N. Linaban.

Officials from the Department of Foreign Affairs – Office of American Affairs were also present, including Assistant Secretary Jose Victor V. Chan-Gonzaga, Director Stephanie Alexis A. Cruz, and Principal Assistant Kristabel Anne C. Arcilla.

The MOU with the Royal Canadian Mint follows BSP’s recent currency and payments agreements with Banque de France on Oct. 23, 2024, and Bundesdruckerei GmbH on Oct. 10, 2024.

The Royal Canadian Mint is responsible for minting and distributing Canada’s circulation coins. With its expertise in coin production and innovation, it has provided services to over 80 countries worldwide.

The Banque de France is the central bank of France and a banknote printer within the Eurosystem, while Bundesdruckerei GmbH is Germany’s official banknote printing company.