The Bank of Mauritius (BoM) has announced through a communique on 18 March 2021 that it has signed a Memorandum of Understanding (MoU) with the central bank of Philippines - Bangko Sentral NG Pilipinas (BSP) - in a collective bid to reinforce the bilateral ties between the two countries. Additionally, the MoU is expected to help foster exchange of information, capacity building, and collaboration in key areas of Central Banking.

This partnership is in accordance with BoM’s aim to better its processes and capabilities through interactivity with foreign regulatory institutions. Having taken effect on 1 March 2021, the MoU covers the development of banking and payment systems, FinTech, cybersecurity, and sustainable central banking.

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