The Jakarta Post
Bank Indonesia (BI) and the central bank of the Philippines, Bangko Sentral Ng Pilipinas (BSP), signed an agreement to strengthen bilateral cooperation in fighting money laundering and terrorism financing.
BI Governor Perry Warjiyo and BSP Governor Nestor A. Espenilla Jr. signed the memorandum of understanding (MoU) over the weekend as both countries needed to work together in fighting financial crimes, especially in payment systems and settling financial transactions, which had become more complicated.
“Indonesia and the Philippines need cooperation and an integrated policy to implement the anti-money laundering and terrorist financing regulation,” Perry said in a statement made available on BI’s official website on Saturday evening.
BI spokesman Agusman added that the cooperation between both central banks would take the form of policy dialogs, information and data exchange, as well as the development of human resources.
Moreover, the MoU was intended to strengthen the legal and regulatory framework and implementation of the policy, he said.
The signing was also in line with the Indonesian government’s effort to fight money laundering and terrorism financing, as well as the implementation of Financial Action Task Force on Money Laundering (FATF) guidelines. (ris)