The Bangko Sentral ng Pilipinas (BSP) and the Central Bank of the United Arab Emirates (CBUAE) have signed a memorandum of understanding to integrate their real-time payment systems. According to a joint statement, the partnership aims to streamline cross-border transactions between the two nations, with future plans to link card switches and messaging infrastructures.
Beyond payment connectivity, the agreement facilitates the exchange of technical knowledge regarding central bank digital currencies (CBDCs) for both retail and wholesale use. The collaboration also extends to sharing expertise in open finance, digital assets, and Islamic banking.
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