The central bank said it is applying the Anti Financial Account Scamming Act (RA 12010), which took effect in June, to track potential “money muling” — the use of bank accounts to move or conceal criminal proceeds.
The Philippines is a step closer to joining J.P. Morgan’s closely watched emerging market bond index, a move that could attract more foreign investments into the country’s debt market.
Union Bank of the Philippines became the first bank to officially go live on the Bangko Sentral ng Pilipinas-led Open Finance for PERA (OFxPERA) Pilot platform during its recent ceremonial launch.
The central bank said its Monetary Board approved the sanctions on Aug. 20 after reviewing the BSP legal department’s investigative findings. The penalties also cover forfeiture of retirement benefits, cancellation of civil service eligibility, and a lifetime bar from taking civil service exams.
Only those with A+, A, or A- grades are publicly named; Remolona’s back-to-back A- places him in an elite group of leaders delivering sound outcomes amid global volatility.
The Bangko Sentral ng Pilipinas (BSP) on Thursday reduced its policy rate by 25 basis points to 5.0 percent, maintaining its relaxed monetary stance amid stable inflation expectations.
The country's largest mobile wallet will suspend access to in-app gaming through its GLife platform starting 8 p.m. on Saturday, August 16, as it moves to comply with a new Bangko Sentral ng Pilipinas (BSP) directive.
The Bases Conversion and Development Authority (BCDA) has approved the detailed development plan for the 31.3-hectare New Bangko Sentral ng Pilipinas (BSP) Security Complex in New Clark City, Tarlac — advancing one of the Philippines’ most significant efforts to decentralize key government functions.
The Bangko Sentral ng Pilipinas (BSP), Department of Education (DepEd), and BDO Foundation are calling on teachers nationwide to embed financial literacy in their lessons using free, ready-made materials jointly developed by the three institutions.