Bangko Sentral ng Pilipinas

Fintech / Regtech

BSP Expands Open Finance Pilot for Retirement Accounts

By Sanday Chongo Kabange | 13/03/2026

The move allows customers of four major financial institutions to open PERA accounts digitally by sharing data with a designated administrator.

Fintech / Regtech

Philippine Senate Approves Act on OFW Remittance Protection

By Sanday Chongo Kabange | 12/03/2026

The measure tasks regulators with setting a range for remittance fees and mandates financial literacy training for overseas workers.

Capital / Liquidity

BSP Overhauls Bank Reporting Rules, Sets New Penalties

By Sanday Chongo Kabange | 09/03/2026

The BSP has introduced a new governance framework, shortened submission deadlines, and revised penalties to improve the quality of bank data.

Fintech / Regtech

BSP Directs Banks to Shift to Biometrics, Phases Out SMS OTPs

By Sanday Chongo Kabange | 09/03/2026

New draft rules require banks to adopt server-side biometrics for high-risk transactions to combat fraud, linking compliance to liability.

AML / KYC

Philippines Drafts Protocol to Reverse Fraudulent Transactions

By Sanday Chongo Kabange | 05/03/2026

The industry-wide framework aims to provide clearer and more reliable timelines for recovering funds stolen through scams and cyberattacks.

Fintech / Regtech

Philippine Rural Banks Warn New Rules Could Stifle Inclusion

By Sanday Chongo Kabange | 05/03/2026

An industry group is urging the BSP to rethink proposed prudential rules, arguing that steep capital requirements and geographic limits could harm digitalisation.

Capital / Liquidity

Philippines Central Bank Reviews Lifting Maturity Cap for Salary Loans

By Sanday Chongo Kabange | 05/03/2026

The move aims to ease borrower debt burdens and provide repayment flexibility amid slowing national credit growth and calls from public sector employees.

AML / KYC

Philippines Doubles EDD Threshold for Cash Withdrawals to PHP 1 Million

By Sanday Chongo Kabange | 04/03/2026

The move aims to ease the burden on legitimate business transactions while allowing FIs to focus AML resources on higher-risk activities.

Securities / Derivatives

Philippines SEC Sets Out Regulatory Framework for Sukuk Issuance

By Sanday Chongo Kabange | 04/03/2026

The new framework details requirements for Shari'ah governance, issuer registration, disclosure, and continuing obligations to develop the country's Islamic capital market.