BSP, Royal Canadian Mint ink 5-year partnership deal on currency management

The Bangko Sentral ng Pilipinas (BSP) has signed a five-year partnership agreement with the Royal Canadian Mint (RCM) to boost cooperation in currency management and gold refining between the two parties.

Under a memorandum of understanding (MOU), the two parties agreed to cooperate on technology exchange, staff training and exchange, sharing best practices, and technical and capacity-building assistance.

“The five-year partnership aims to foster collaboration between BSP and RCM, focusing on sustainability practices, cost-effective currency production, gold processing operations, and commemorative coin production,” the BSP said in a statement.

The MOU was signed by BSP governor Eli Remolona Jr. and RCM president and chief executive officer Marie Lemay in an online ceremony on January 22, 2025, following the signing of agreements of payments and currency management with Banque de France and Bundesdruckerei GmbH in October 2024. — Jon Viktor D. Cabuenas/RSJ, GMA Integrated News