As part of the Silk Road Finance and Technology Forum, a meeting was held between the leadership of the Central Bank of the Republic of Uzbekistan and representatives of the Bangko Sentral ng Pilipinas (BSP) to discuss key areas of cooperation, including the development of Islamic finance, financial sector regulation and supervision, remittances, digital financial services, and joint research initiatives between the two regulators.
Particular attention was given to the Philippines’ experience in creating an enabling regulatory environment for Islamic finance, developing Shariah-compliant financial instruments, and building an integrated ecosystem encompassing the banking, capital markets, and insurance sectors.
The parties also exchanged views on effectively leveraging digitalization in the remittance market, enhancing the accessibility and efficiency of cross-border payments, and strengthening research and expert capacity.
Both sides expressed their readiness to continue expert-level dialogue, exchange knowledge and experience, and further expand practical cooperation in these areas.
