Manila, Nov. 13 -- The Bangko Sentral ng Pilipinas (BSP) and Bank Indonesia (BI) signed a memorandum of understanding (MOU) on Friday to deepen the bilateral cooperation between the two central banks.

The MOU was signed by BSP Governor Eli Remolona Jr. and BI Governor Destry Damayanti.

In a joint statement, the BSP and BI said the MOU establishes a framework for them to advance practical cooperation in key areas of central banking, strengthen institutional capabilities, and develop joint responses to shared challenges and emerging opportunities moving forward.

These include monetary and macroprudential policy, financial stability, payment and settlement systems, digital financial innovation, and cybersecurity.

The MOU also includes ...