Bangko Sentral ng Pilipinas Inks Cooperation Agreement with Indonesia’s OJK
The Bangko Sentral ng Pilipinas (BSP) and Otoritas Jasa Keuangan (OJK) has signed a Memorandum of Understanding (MOU) on 1 September 2020.
The MOU was formed to facilitate consultation, cooperation and the exchange of information between the two institutions. It aims to provide a framework for dialogue and cooperation between 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, 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.
BSP had formed similar ties previously in 2017 by signing a FinTech Co-operation Agreement with its Singaporean counterpart, the Monetary Authority of Singapore.