All posts tagged "BSP"
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155UncategorisedPhilippines Moves to End Abusive Practices by Fintech Lenders
A code of ethics and code of conduct have been adopted by members of FinTechAlliance.ph prohibiting the harassment and shaming of delinquent borrowers.
September 18, 2019 -
248Asia-PacificBSP Revises Rules to ‘Institutionalise’ Consumer Protection at Banks
The BSP has revised its financial consumer protection framework to ensure banks conduct their business ethically and refrain from practices that may cause harm to consumers.
September 12, 2019 -
277Asia-Pacific
Philippines Signs Islamic Banking Framework into Law
The law grants Islamic banks powers to carry out the business of a bank in accordance with Sharia principles, in addition to the general powers granted to corporations.
September 3, 2019 -
615AML / KYCPhilippines Launches Pilot Test of New National ID System
The pilot test phase will initially focus on government and welfare services, but will later be expanded to include financial services.
September 2, 2019 -
286AML / KYCPhilippine Police Arrest Former Govt Official for Banking Law Violations
Former foreign affairs secretary Perfecto Yasay Jr is reportedly accused of conspiring to obtain a $6.7mn loan for a company without reporting the loan to the central bank.
August 28, 2019 -
465Asia-PacificPhilippines to Relaunch OF Bank to Create Digital-only Bank
The Overseas Filipino Bank was launched in January to cater to overseas Filipino workers, who will more easily be able to access digital-only services.
August 14, 2019 -
312Asia-Pacific
BSP Issues Guidelines for Banks on Managing IRRBB
Covered supervised institutions have until 1 January 2021 to develop or revise their policies and procedures in accordance with the guidelines.
August 14, 2019 -
922Asia-Pacific
BSP Orders FIs to Coordinate Cyber Threat Response
BSP supervised financial institutions are asked to participate in the BAPCID, a platform for sharing cyber threat information and best practices.
June 18, 2019 -
414Asia-PacificJapan, Philippines Explore Yen-Peso Direct Trading
Japan and the Philippines will explore the establishment of direct yen-peso settlement for trade and investment between the two countries.
June 3, 2019 -
516Asia-Pacific
Philippines Revises Framework Governing Bank Auditors
The revised framework lays out criteria for banks to select external auditors as well as key guidelines for auditors in their assessment of banks.
May 29, 2019
