Philippines

Capital Adequacy

BSP Offers Regulatory Relief to Promote Islamic Banking

By Sanday Chongo Kabange | 03/04/2023

The BSP is offering relief from minimum capital requirements to incentivise conventional banks to develop the Islamic banking market.

Structural Regulation

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.

Payments & Settlements

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.

Anti-Money Laundering

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.

Sustainable Finance

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.

Payments & Settlements

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.

Sustainable Finance

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.

Payments & Settlements

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.

Liquidity Risk

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.