Banking & Insurance
Global network for financial inclusion issues “Manila Manifesto”
The 2023 Alliance for Financial Inclusion (AFI) Global Policy Forum issued last week the ‘Manila Manifesto’ which calls for boosting ties with global financial standard-setting bodies to make financial products and services accessible, safe, and affordable for all.
BSP keeps policy rate steady but signals prompt hike if warranted
The Bangko Sentral ng Pilipinas kept the rate at which it borrows from and lends to banks unchanged on Thursday at 6.25 percent but made it perfectly clear the policy-making monetary board will act as quickly as at its next rate-setting meeting in November and raise the polic ratey should this be warranted.
New MB member De Leon takes oath
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. on Monday swore in former National Treasurer Rosalia V. De Leon as the newest monetary board member (MBM) at the BSP head office in Manila.
Court convicts rural bank execs for DOSRI loan excesses
The Regional Trial Court of Isabela has convicted the former director/president and other officers of a closed rural bank for engaging in loans beyond allowable ceilings.
BOP shortfall eases in August
The country’s balance of payments (BOP) position stood as a deficit of $57 million in August this year, lower than the $572 million BOP shortfall in the same month last year.
