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BSP onboards 1st nonbank electronic money issuer
The Bangko Sentral ng Pilipinas (BSP) achieved a significant milestone by welcoming OmniPay, Inc. as the first nonbank electronic money issuer (EMI) participant in its Real Time Gross Settlement (RTGS) payment system, PhilPaSSplus. This move aligns with the National Payment Systems Act and signifies a more inclusive national payment system, allowing nonbank financial institutions to conduct efficient and low-risk funds transfers directly through the central bank. Assistant Governor Mary Anne P. Lim emphasized the BSP's commitment to safeguarding the entire Peso RTGS payment system amidst global trends of diversified participation. With 236 institutions, including various banks and nonbank entities, utilizing PhilPaSSplus for large value transactions and retail payment clearing, the BSP's initiative reflects a broader trend of central banks facilitating direct access for nonbank entities to settlement services. This development comes as international standard-setting bodies work on access guidelines to manage risks in evolving payment systems with new players and financial technologies......»»
BSP logs 40K complaints relating to financial consumer protection; only 5% come from Mindanao
SINCE the effectivity of the Financial Consumer Protection Act (Republic Act 11765) in June 2022, the Bangko Sentral ng Pilipinas (BSP) has logged more than 40,000 complaints from customers of different BSP-supervised financial institutions from all over the Philippines. Of this number, only around 5 percent come from Mindanao, implying the Mindanaoans' unawareness of the law......»»
BSP Governor Eyes Potential Rate Cut as Inflation Eases
In a recent interview, Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. hinted at a potential rate cut later this year, signaling optimism amid the nation’s economic landscape. While cautious about the first semester, Remolona remains watchful, stating that the move could come “within the year.” The BSP, responding to escalating inflation, had hiked […].....»»
BSP governor says February rate cut not likely
In statements made to the press, BSP Governor Eli Remolona said that due to the “numbers we are seeing” a rate cut “is not likely (on) February 15”, which is the next scheduled meeting date for the BSP’s Monetary Board......»»
Cebu Football Club introduces new faces for the upcoming PFL season
CEBU CITY, Philippines — The Cebu Football Club (CFC) Gentle Giants continues to overhaul its entire roster after welcoming new faces, including key homegrown players, as the Philippines Football League (PFL) season unfolds in April. The Gentle Giants presented 10 new players, including four Cebu homegrown players, who will comprise its official roster for the.....»»
Philippines urged to improve broadband infrastructure
The Philippines will need to pursue and implement reforms aimed at encouraging competition and investments to improve its broadband infrastructure, according to a World Bank study......»»
For aspiring entrepreneurs: Mister Donut offers 90-day business trial package
Mister Donut, a strong international brand with 40 years of proven franchising track record in the Philippines, is encouraging budding entrepreneurs or those who want to test the viability of a new location to pursue their franchising plans via its 90-day business trial package......»»
Remittances soar to P33.5 billion in 2023 – BSP
MANILA, Philippines — Filipinos abroad sent a record amount of money back home in 2023 as remittances hit $33.5 billion, boosted by a stronger peso. This increase in the value of remittances helped households cope with high inflation. According to the Bangko Sentral ng Pilipinas (BSP), cash remittances through banks totaled $33.5 billion, marking a.....»»
Xinhua world economic news summary at 0900 GMT, Jan. 19
MANILA -- The Philippines' overall balance of payments (BOP) posted a surplus of 642 million U.S. dollars in December 2023, higher than the 612 million dollars recorded in the same month 2022, the country's central bank said Friday. The Bangko Sentral ng Pilipinas (BSP) said the BOP surplus in December 2023 reflected inflows arising mainly from the national government's net foreign currency deposits with the BSP.....»»
Xinhua world economic news summary at 0900 GMT, Jan. 19
MANILA -- The Philippines' overall balance of payments (BOP) posted a surplus of 642 million U.S. dollars in December 2023, higher than the 612 million dollars recorded in the same month 2022, the country's central bank said Friday. The Bangko Sentral ng Pilipinas (BSP) said the BOP surplus in December 2023 reflected inflows arising mainly from the national government's net foreign currency deposits with the BSP.....»»
Panabo City mayor faces multiple raps
PANABO City Mayor Jose E. Relampagos faces three cases filed against him by the Sangguniang Panlungsod to the Office of the President (OP)......»»
Driver of overturned truck faces multiple violations
Driver of overturned truck faces multiple violations.....»»
Vlogger Yexel Sebastian faces P50 billion Syndicated Estafa complaint
Content creator and entrepreneur Yexel Sebastian faces several complaints including one for Syndicated Estafa in a scam involving as much as P50 billion......»»
Tops faces backlash over bus service issue
Tops faces backlash over bus service issue.....»»
Former Olympian Suarez faces Lebron in Texas
Former Olympian Suarez faces Lebron in Texas.....»»
Mama faces world-rated Sandoval in LA
Mama faces world-rated Sandoval in LA.....»»
Ever Bilena faces rap over P9.3M tax deficiency
Ever Bilena faces rap over P9.3M tax deficiency.....»»
Sinner ends 10-time champion Novak Djokovic’s Australian Open streak, faces Medvedev for the title
Sinner ends 10-time champion Novak Djokovic’s Australian Open streak, faces Medvedev for the title.....»»
Sports Illustrated employees left in limbo as publisher faces money troubles
Sports Illustrated employees left in limbo as publisher faces money troubles.....»»
Capuloy faces Zhang for WBC Far East belt
Capuloy faces Zhang for WBC Far East belt.....»»