KARACHI - State Bank of Pakistan (SBP) Governor Tariq Bajwa and Philippines Ambassador Daniel R Espiritu - on behalf of Bangko Sentral NG Pilipinas, the Central Bank of Philippines - signed a Memorandum of Understanding (MoU) on bilateral central banking cooperation in a ceremony held at SBP on Friday.

The MoU aims at cooperation between the two authorities in disciplines of banking system, payments & settlements and other areas of mutual interest. It may be noted that in pursuance of SBP’s initiative regarding international cooperation with the banking regulatory authorities of different countries, this is the 19th MoU that SBP has signed so far and the fourth during the last 16 months.