German, Philippine central banks ink MOU for personnel training

Deutsche Bundesbank will carry out training services and advisory assistance for BSP personnel.

The Bangko Sentral ng Pilipinas (BSP) has inked a memorandum of understanding (MOU) with Germany’s central bank to receive training and support for its personnel.

Under the MOU, the Deutsche Bundesbank will carry out training services, consultation, and advisory assistance for BSP personnel.

Deutsche Bundesbank experts have been conducting in-person or virtual capacity-building programs for BSP personnel since 2004, the BSP said in a press release.

Recent programs include the in-person training on “Credit Assessment and Analysis in the Central Bank’s Lending Operations” at the BSP Head Office in Manila in May and the online training on “Payment and Securities Settlement Systems” in October 2023.

BSP Governor Eli M. Remolona, Jr. expressed delight for the MOU.

“For many years now, the Bundesbank has been the BSP’s strategic partner and has been supporting the BSP’s learning and development requirements through collaboration on technical programs, in-person seminars, online courses, and study visits on benchmarking. These have greatly contributed to productivity enhancements,” Remolona said.

Deutsche Bundesbank executive board member Burkhard Balz also emphasized the already existing good and trusting cooperation between the Deutsche Bundesbank and the BSP.

Balz said that he is looking forward to the enhancement of cooperation and bilateral projects.

Deutsche Bundesbank Head of International Central Bank Dialogue Martin Dinkelborg and German Ambassador to the Philippines Dr. Andreas Michael Pfaffernoschke witnessed the event.