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Mar 28 2021 
BSP Highlights Role of Digital Banks as Key Financial Inclusion Enabler
The Bangko Sentral ng Pilipinas (BSP)considers the digital banking framework as a key building block in promoting financial inclusion.
The framework aims to enable a regulatory environment that fosters responsible innovation, promotes cyber resilience, and expand the digitalisation of the financial sector.
Issued in December last year, the BSP’s “Guidelines on Establishment of Digital Banks” defines a digital…
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Mar 28 2021 
Be lenient with delayed tax filings, Salceda asks
THE Chairman of the House Committee on Ways and Means on Sunday asked tax agencies not to impose penalties and surcharges for delayed tax filing due to changes prompted by the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act.
Albay Rep. Joey Sarte Salceda said the first test of Create will be the upcoming filing…
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Mar 28 2021 
Senate to consider lower increase in deposit insurance
A SENATOR said lowering the increase in the maximum deposit insurance coverage proposed under measures amending the Philippine Deposit Insurance Corp.’s (PDIC) charter is an “option,” following concerns raised by banks on a possible rise in their premium payments.
Senator Juan Edgardo M. Angara, vice chair of the Senate Committee on Banks, said the measures amending…
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Mar 28 2021 
Peso little changed after Monetary Board meeting
The peso closed little changed Friday after the Monetary Board kept benchmark interest rates steady at record lows.
The peso closed at P48.49, against its P48.58 finish Thursday, according to the Bankers Association of the Philippines.
The currency strengthened from its week-earlier close of P48.62.
The peso opened the Friday ession at P48.55. Its low was P48.585 while…
