Philippines

Capital / Liquidity

Philippines to Merge Two Large State Lenders

By Editors | 30/03/2023

The merger of LandBank and the Development Bank of the Philippines will create the country’s largest lender by assets.

Fintech / Regtech

BIS Innovation Hub Completes Project Nexus Proof-of-Concept

By Editors | 23/03/2023

The next phase of Nexus will connect the instant payment systems of Singapore, Indonesia, Malaysia, Philippines and Thailand.

AML / KYC

Philippine Agencies Sign Data Sharing Deal on Beneficial Ownership

By Editors | 22/03/2023

The agreement will allow the SEC to give competent authorities timely access to beneficial ownership information, in line with the FATF recommendations.

ESG / Sustainability

Philippine SEC Proposes Guidelines for Blue Bond Issuance

By Editors | 17/03/2023

Eligible blue projects aim to directly address sustainable water management and ocean protection and seek to contribute to the development of the blue economy.

Fintech / Regtech

BSP Sets 1 July for Mandatory Adoption of QR Ph Standard

By Editors | 15/03/2023

From 1 July, all FIs and PSPs must disable all non-QR Ph codes and proprietary QR codes and ensure they are no longer be available to the public.

ESG / Sustainability

Philippines to Adopt ASEAN SRFS, Issue Blue Bond Framework

By Editors | 15/03/2023

The SEC will adopt the ASEAN Sustainable and Responsible Fund Standards and separately release a new blue bond framework by Q2.

BSP Seeking to Eliminate Fees for Small Value Transactions

By Editors | 06/03/2023

The BSP is considering lowering the RRR in exchange for banks waiving their fees on small transactions, as part of efforts to promote financial inclusion.

Fintech / Regtech

BSP Finalises New Requirements for E-money Issuers

By Sanday Chongo Kabange | 14/02/2023

Amended regulations require e-money issuers to meet higher liquidity and capital requirements, to ensure the industry’s resilience.

ESG / Sustainability

SEC Philippines Drafts Guidance on Sustainability-linked Bonds

By Editors | 06/02/2023

Under the guidelines, the issuer must be an ASEAN Issuer or a non-ASEAN issuer with KPIs linked to an ASEAN member country.