Banking & Finance

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.

The Department of Finance (DOF) bucked assertions that the Philippines will be the “laggard in Asia” in a post-pandemic world.

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno has reiterated that the central bank will keep monetary policy accommodative in support of the country’s economic recovery from the COVID-19 crisis. 

The Philippine peso has ranked first among four Asian currencies that maintained their value against the US dollar in the midst of the COVID-19 pandemic.