THE Bangko Sentral ng Pilipinas (BSP) and its Asia-Pacific counterparts have agreed to bolster regional cooperation to navigate emerging financial system challenges, focusing on scam prevention, artificial intelligence (AI) integration, and supply chain resiliency.
During the Executives’ Meeting of East Asia Pacific Central Banks (EMEAP) held on July 23, 2026, BSP Governor Eli M. Remolona, Jr. joined regional central bank leaders in approving key initiatives aimed at enhancing consumer protection and establishing frameworks for AI adoption.
A primary outcome of the meeting is the creation of a specialized regional task force dedicated to information-sharing among monetary authorities.
This initiative seeks to improve the prevention, detection, and mitigation of financial scams across border jurisdictions.
The governors also endorsed a new comprehensive training program covering central bank policy and operations to develop the capabilities of junior central bankers across the region.
“Regional cooperation remains crucial as we confront evolving risks and challenges impacting both local economies and global financial markets,” Governor Remolona emphasized during his address to EMEAP members.
The discussions continued on July 24 at the 15th Informal Meeting of the EMEAP Governors and Heads of Supervisory Authorities.
Delegates shared operational insights and best practices regarding the responsible deployment of AI within financial institutions.
Central bank leaders highlighted that ethical AI implementation is vital to balancing consumer protection, risk management, and technological innovation.
Additionally, the regulatory leaders evaluated the macro-financial implications of ongoing supply chain disruptions affecting East Asia and the Pacific.
Established as a collaborative forum, EMEAP brings together 11 central banks and monetary authorities across the region.
The organization serves as a premier platform for exchanging economic insights, fostering regional policy coordination, and safeguarding long-term monetary and financial stability.
