Mr. Tariq Bajwa, Governor, State Bank and H.E. Daniel R. Espiritu, Ambassador of Philippines in Pakistan on behalf of Bangko Sentral NG Pilipinas – the Central Bank of Philippines have signed a Memorandum of Understanding (MoU) on bilateral central banking cooperation in a ceremony held at SBP, Karachi today. 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 nineteenth MoU that SBP has signed so far and the fourth during the last sixteen months.