Banking & Finance

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).

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.

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.

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.

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.

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.

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.

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.

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.

Bank lending worsened its slump in April to post its worst contraction in over two decades, a grim reminder of the limits of the central bank’s powers in supporting the country’s pandemic-hit economy.