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

The MoU envisages cooperation between the two authorities in disciplines of banking system, payments & settlements and other areas of mutual interest. 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.

Copyright Business Recorder, 2017