BANGKO SENTRAL NG PILIPINAS

Fintech / Regtech

BSP Set to Launch Pilot Testing for New ITRS

By Sanday Chongo Kabange | 27/10/2023

The BSP has started sending banks XML schema definitions for its new International Transactions Reporting System.

AML / KYC

BSP Highlights Importance of PEPs Due Diligence

By Sanday Chongo Kabange | 11/10/2023

Domestic and international organisation PEPs, unlike foreign PEPs, are not automatically considered as high risk.

Big Picture

The Philippines Banks on Cloud Adoption for Operational Resilience

By Ranamita Chakraborty | 11/10/2023

BSP’s Jovelyn Hao shares at a conference how the Philippine central bank sees cloud adoption as an enabler for banks’ operational resilience.

AML / KYC

Philippine SEC Stresses Need for CDD on DNFBP Clients

By Sanday Chongo Kabange | 26/09/2023

Regulated firms that don’t identify and verify the true identity of DNFBP clients and their beneficial owners may face enforcement action.

AFI Members Sign ‘Manila Manifesto’ to Boost Financial Inclusion

By Mark Johnston | 14/09/2023

Members of the Alliance for Financial Inclusion pledged to work with global standard setters to promote financial inclusion.

Crypto / Digital Assets

BSP Announces Key Technology Decision for CBDC Pilot

By Sanday Chongo Kabange | 10/09/2023

Participating financial institutions will test the use of wholesale CBDC technology alongside PhilPaSSplus in a sandbox environment.

BSP Engages Saudi Arabia in Push to Develop Islamic Banking Sector

By Sanday Chongo Kabange | 08/09/2023

The BSP has asked Saudi Arabian banks to help promote and develop Islamic banking and finance in the Philippines.

Market Infrastructure

Vietnam Joins ASEAN Payment Connectivity Initiative

By Sanday Chongo Kabange | 28/08/2023

The inclusion of the SBV has increased the Regional Payment Connectivity group from five to six ASEAN central banks.

ESG / Sustainability

BSP Signs UN-backed Principles for Responsible Investment

By Sanday Chongo Kabange | 22/08/2023

Becoming a PRI signatory will help the BSP enhance its integration of ESG factors in its investment process and decision-making.