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KARACHI: The State Bank of Pakistan (SBP) has signed a memorandum of understanding (MoU) on bilateral central banking cooperation with the Central Bank of the Russian Federation (CBRF), a press release said on Monday.

SBP Governor Tariq Bajwa visited the CBRF headquarters in Moscow on Jan 15. This was the first-ever visit of an SBP governor to the CBRF, it said. Mr Bajwa and CBRF Governor Elvira Nabi­u­llina signed the document.

The MoU aims at promoting cooperation between the two authorities primarily in disciplines of financial systems development, payment systems, financial infrastructure and financial institutions supervision.

Published in Dawn, January 16th, 2018