Banking & Insurance
BSP issues implementing rules for AFASA law
The Bangko Sentral ng Pilipinas (BSP) has issued the implementing rules and regulations (IRR) of Republic Act No. 12010, or the Anti-Financial Account Scamming Act (AFASA), marking a significant step in curbing financial fraud and enhancing consumer protection.
PH earns high marks in 2024 PEFA Report
Finance Secretary Ralph G. Recto on Wednesday welcomed the results of the 2024 Public Expenditure and Financial Accountability (PEFA) Reports launched by the Public Financial Management (PFM) Committee.
Banks boost cybersecurity amid digital threats
Banks across the Philippines are significantly increasing their technology investments, with a strong focus on cybersecurity infrastructure and operational efficiency.
FIRB grants ₱20.9-B tax subsidy to boost public services
The Fiscal Incentives Review Board (FIRB), chaired by Finance Secretary Ralph G. Recto, has approved ₱20.9 billion in tax subsidies for government institutions for fiscal years 2024 and 2025. The move aims to enhance public service delivery by allowing agencies to redirect resources from tax obligations to operational efficiency.
ADB to fund PH irrigation, logistics in $1.5B rice drive
The Asian Development Bank (ADB) is allocating up to USD500 million for the Philippines under a new USD1.5 billion regional program aimed at transforming rice farming practices across the Asia-Pacific, with a strong policy focus on sustainability, climate adaptation, and food security.
