Saving in banks

One of the central themes in the Bangko Sentral’s financial education and literacy advocacy is the need for our citizens not just to save – but to save in banks. While the Bangko Sentral has made progress during the last ten years, the Bangko Sentral still has more ground to cover. Ten years ago, only one out of five Filipinos had savings. Today, this figure has improved to one... 

Act amended

A measure amending the Rural Bank Act to allow foreign capital infusion in rural banks has been signed into law by President Benigno S. Aquino III. Republic Act No. 10574 aims to promote a healthier and competitive rural banking system as well as boost economic development in the countryside.  Read More »

Liberalizing the sale of foreign exchange

In two previous articles, we wrote about the “problem of plenty” brought about by the surge of dollar inflows into the country. The Bangko Sentral has responded by “sterilizing” the dollars. We explained that the “sterilization” operations were quite costly but necessary in order to relieve pressure on vulnerable sectors such as our OFWs, our exporters, and the BPO sector... 

Gov’t to sustain investment grade

Manila, Philippines – Just because Fitch Ratings gave the country its first-ever investment grade, it is not a reason for Malacañang to rest on its laurels. Amid the euphoria over the credit rating upgrade, presidential spokesman Edwin F. Lacierda said the administration is determined to sustain the investment grade through sound fiscal management and good governance.  Read More »

Excellence in BSP’s Officials, Personnel

Manila, Philippines – One of the core values of the Bangko Sentral ng Pilipinas is excellence. Such excellence is reflected in the men and women of the BSP, including its new hires. In the Bangko Sentral’s annual “Breakfast With the Governor,” a special event in which the new employees get to know Governor Amando M. Tetangco Jr. up close and personal, it was revealed how impressive... 

Rural Banks

(Concluded from last week) MANILA, Philippines – The recent anniversary celebration of the Rural Bankers of the Philippines–Microenterprise Access to Banking Services (RBAP–MABS) showcased how the concept and importance of microfinance has evolved in the last 15 years. Incoming search terms:top rural banks in the philippines (36)rural banks financial report 2012 (1) Read More »

Senate bent on boosting AMLA

Manila, Philippines – The Senate is bent on expanding the scope and tightening the parameters of the Anti-Money Laundering Act (AMLA) to curb corruption and terrorism as its commitment to the international community. “We are expanding the list (of covered institutions and individuals) because we know that as we tighten the noose on those using the formal banking system to launder...