Indonesian, PHL central banks partner on digital finance

Bank Indonesia (BI) and Bangko Sentral ng Pilipinas (BSP) signed the Memorandum of Understanding (MoU) on cooperation in the area of payment systems and digital financial innovation today.

The MOU aims 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 Dr. Benjamin E. Diokno, Governor of Bangko Sentral ng Pilipinas and Dr. Perry Warjiyo, Governor of Bank Indonesia.

The MoU signing was held to conclude a bilateral meeting between the two central banks which fruitfully 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. (BSP)