Banking & Finance

BSP calls on foreign chambers to invest in the Philippines’ digital transformation

The Bangko Sentral ng Pilipinas (BSP) encouraged foreign investors to take advantage of investment opportunities in the country’s rapid digital transformation and serve as partners in growth and nation-building

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BSP sets caps on interest rates, penalties and other fees and charges on small-value, short-term, general-purpose and unsecured loans granted by lending and financing companies

The Monetary Board (MB) has approved the imposition of ceilings on interest rates, penalties, and other fees and charges on small-value, short-term, general purpose, and unsecured loans extended by Lending Companies (LCs), Financing Companies (FCs), and their Online Lending Platforms (OLPs).

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BSP reinforces commitment to sustainability agenda

The Bangko Sentral ng Pilipinas (BSP) issued the Environmental and Social Risk Management (ESRM) Framework in line with its commitment to champion the sustainability agenda in the financial system.

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BSP to use polymer money starting Q2 next year

The Bangko Sentral ng Pilipinas (BSP) will issue starting second quarter of 2022 polymer banknotes which are more cost-efficient, durable and hygienic than the paper-based bills.

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Central banks of Philippines and Singapore pursue seamless cross-border payments

Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno and Monetary Authority of Singapore Managing Director Ravi Menon present the signed cooperation agreement (CA) aimed at facilitating interoperable payments between the two countries.

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Financial consumers to benefit from proposed Financial Consumers Protection Act

The Bangko Sentral ng Pilipinas (BSP) underscores the importance of the proposed Financial Consumer Protection Act (FCPA) as an enabling law for protecting financial consumer welfare.

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Metrobank warns about investment scams, shares tips to avoid them

As we approach the second-half of the year, most employees may have already received their mid-year bonuses in their respective payroll accounts. Unfortunately, scammers are also expecting the same. Recently, illegal investment schemes have been lurking around every corner, waiting for the most opportune time to fool you into “investing” your hard-earned money.

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BSP fast-tracks removal of Philippines from dirty money list

The Philippine government is doubling its efforts to improve anti-money laundering and terrorist financing regulations for the purpose of getting the country removed from the watchlist of Financial Action Task Force (FATF), a global dirty money watchdog.

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Number of bank accounts of poorest Filipinos has doubled – BSP

The number of low-income Filipinos who own bank or financial accounts has almost doubled in recent years due, in large part, to the continued digitalization of financial services, according to the central bank.

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Retail transactions seen 50% online by 2022

At least half of the total retail transactions will be online as early as next year or one year ahead of the 2023 target of the Bangko Sentral ng Pilipinas (BSP) as the regulator continues to ramp up efforts to transform the Philippines to a cash-lite from a cash-heavy economy.

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