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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......»»
PDIC recommends depositing in banks than e-wallets for better security
The Philippine Deposit Insurance Corp. is encouraging Filipinos to recognize the personal and national value of depositing in banks for better financial security......»»
How to teach kids to handle money: Drew, Iya Arellano give advice
Drew and Iya emphasized the importance of financial literacy, especially among kids......»»
Landbank opens digital savings account for OFWs
State-run Land Bank of the Philippines (Landbank) has introduced a digital savings account to push overseas Filipino workers (OFWs) toward financial independence......»»
Palawan Group of Companies partners with DOLE MIMIROPA for underbanked beneficiaries
As part of its commitment to making digital financial services available to all sectors, especially the marginalized and vulnerable, the Palawan Group of Companies has partnered with the Department of Labor and Employment (DOLE) MIMAROPA Region......»»
DMCI Holdings bags multiple wins at 14th Asian Excellence Awards
Diversified engineering conglomerate DMCI Holdings Inc. has been awarded four prestigious titles at the 14th Asian Excellence Awards for its outstanding leadership, financial performance and commitment to investor relations......»»
EDITORIAL - Spooked by ghosts
The Bangko Sentral ng Pilipinas has enjoyed a reputation as a stable, controversy-free institution – as it should, considering its critical role in ensuring the stability of the country’s banking and financial sector. Today, unfortunately, this stability is being rocked by the presence of ghosts – or more precisely, ghost employees – in the BSP’s highest policy-making body, the Monetary Board......»»
Mandaue senior high grads to receive P2,000 assistance
MANDAUE CITY, Cebu — Mandaue senior high school graduates from public schools will be given a financial assistance worth P2,000 by the city government. This was announced by Mayor Jonas Cortes during the commencement exercises of the Mandaue City Comprehensive National High School on Wednesday aftelrnoon, May 29. Cortes in his Facebook Page said that.....»»
Chelsea Manalo reveals how she almost quit before winning Miss Universe Philippines 2024
Newly crowned Miss Universe Philippines 2024 Chelsea Anne Manalo revealed that she almost quit the pageant due to financial issues......»»
Palawan Group of Companies partners with DOLE MIMIROPA for underbanked beneficiaries
As part of its commitment to making digital financial services available to all sectors, especially the marginalized and vulnerable, the Palawan Group of Companies has partnered with the Department of Labor and Employment (DOLE) MIMAROPA Region......»»
BSP to propose law vs illegal money service firms
The Bangko Sentral ng Pilipinas (BSP) is set to propose legislation against illegally operating money service businesses (MSBs) and nonbank financial institutions (NBFIs) who are not registered with the central bank......»»
Palawan Group of Companies partners with DOLE MIMAROPA to make things easier for underbanked beneficiaries
As part of its commitment to making digital financial services available to all sectors, especially the marginalized and vulnerable, the Palawan Group of Companies has partnered with the Department of Labor and Employment (DOLE) MIMAROPA Region. Palawan’s partnership with DOLE MIMAROPA has significantly improved and simplified the department’s disbursement processes for releasing stipends and salaries.....»»
Petron eyes growth for 4th straight year
Oil giant Petron Corp. is hoping to sustain its strong financial performance for the fourth consecutive year by taking advantage of the country’s economic recovery to hike its sales volume......»»
PH Posted a USD639-M Deficit in April BSP Reports
The latest report by the Bangko Sentral ng Pilipinas (BSP) revealed that the country’s balance of payments (BOP) deficit of USD639 million in April this year. According to BSP, this year’s deficit is said to be USD148 million more than in April 2023. What is a BOP? It is a financial statement of a country […].....»»
VERA Files updates database on PH media ownership
VERA Files presented the updated Media Ownership Monitoring (MOM) Database on May 17 at a program hosted by the University of the Philippines - Diliman's College of Mass Communication in Quezon City. In partnership with the Germany-based Global Media Registry (GMR) and with the financial support of the German Embassy in Manila,.....»»
BSP wants stricter policies vs erring bank personnel
he Bangko Sentral ng Pilipinas (BSP) is looking to require its supervised financial institutions to have a policy in determining the process and criteria on when to file legal cases against erring personnel, including dismissed directors, officers and employees......»»
GoTyme shareholders acquire Philippines biggest fintech salary lender
The major shareholders of GoTyme Bank have acquired SAVii, the largest fintech salary lender in the Philippines, a move seen to accelerate the digital bank’s expansion into payroll-enabled financial products......»»
1, 246 in Lapu-Lapu City receive P3,000 cash aid
LAPU-LAPU CITY, Cebu – A total of 1,246 beneficiaries in Lapu-Lapu City received financial assistance worth P3,000 each during the nationwide launch of the “Ayuda para sa Kapos ang Kita Program” (AKAP) on Saturday, May 18. AKAP is a national government program that aims to distribute cash aid to Filipinos who are in need, especially.....»»
Philippines gets P575 million to address climate change
The Philippines has secured a financial boost of P575 million ($10 million) to ramp up its programs aimed at addressing the worsening impacts of climate change......»»
Queen Maxima to visit Philippines, to push financial inclusion
Queen Máxima of the Netherlands is scheduled to visit Manila next week in her capacity as United Nations Secretary-General’s Special Advocate for Inclusive Finance for Development (UNSGSA)......»»