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Banking & Finance

More ODA funds were spent last year–Neda

The disbursement of Official Development Assistance (ODA), or low-cost bilateral funds for government projects and programs, tripled in the fourth quarter of last year compared to the same period the year before, National Economic and Development Authority (Neda) figures showed.

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Absence of pin pad shields bugs ATMs

Jerry Maglunog Seventy percent of all ATMs (automated teller machines) in the country or over 7,000 ATMs are magnets for skimmers who victimize unsuspecting depositors of their cash via unauthorized withdrawals from their accounts. The reason: most of the ATMs are not equipped with pin pad shield, the most basic element to prevent skimmers from taking advantage of the ATM …

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Mismanagement, insider abuse kill rural banks

Jerry Maglunog Most rural banks (RBs) collapse due to mismanagement and cruel dynasty led by kin who run the bank, according to Sen. Sergio Osmena III, chairman of the Senate Committee on Banks and Financial Institutions.

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