Globe puts up first mobile microfinance bank
Globe Telecommunications, Inc., together with sister company Ayala Corp., is all set to put up the Philippine’s first mobile microfinance banking unit. That is because the Banko Sentral ng Pilipinas approved the Globe and Ayala’s entry into the banking industry. The new bank, will be called “BPI Globe Banko, A Savings Bank” will be using [...]
October 12, 2009
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Tags: Ayala, Banks, BPI, BPI Globe Banko, BSP, Business, business loans, capitalization, entrepreneur, financing, funds sources, Globe, Loans, microfinancing, mobile financing, NGOs, Philippines, SMEs · Posted in: Announcement, banking, Employment, finance, investments, Loans, money, Philippine banks, Philippine business news, Philippines
BSP okay with “Money Laundering”
Only because of the aftermath of Tropical Storm Ondoy, the Bangko Sentral ng Pilipinas permits banks to do “Money Laundering” operations. Of course, money laundering here does not refer to those wealth which came from questionable sources. When BSP gave a go signal to money laundering, it refers to changing those soiled bills where were [...]
October 9, 2009
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Tags: Bangko Central ng Pilipinas, Banks, BSP, calamity, flash flood, money laundering, new bills, Ondoy, Peso, Philippine, Philippine currency, replacement · Posted in: Announcement, banking, Government, money, Philippine banks, Philippine business news, Philippines
Abaca fiber to stay on Philippine bills
Abaca farmers can now rest easy, as the Bangko Sentral ng Pilipinas has decided to keep using abaca fiber on Philippine notes. BSP said abaca fiber will stay as its Numismatic Committed decided to support the domestic abaca industry and dropped the plan to print new bank notes in polymer material. Armando Suratos, Deputy Governor [...]
September 20, 2009
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Tags: abaca fiber, BSP, finance, money, Philippine notes · Posted in: Announcement, economy, finance, Government, money, Philippine business news, Philippines
BSP declared ‘not a bank’ and exempted from GRT
A memorandum from the Bureau of Internal Revenue has declared the Bangko Sentral ng Pilipinas (BSP) not a bank and therefore exempted from GRT or gross receipt tax. The Revenue Memorandum Circular 65-2008, which states that BSP is exempted from GRT and some other taxes was signed by former BIR commissioner Lilian B. Hefti. It [...]
July 13, 2009
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Tags: bank, banking, BIR, BSP, credit, finance, GRT, money, Philippines, tax exemption · Posted in: money
