Dear RBAP Members: For your guidance, attached is Bangko Sentral ng Pilipinas (BSP) Memorandum No. M-2013-023: BSP Compliance Rating System. The Memorandum is also posted in the BSP Website View/Download BSP Memorandum No. 2013-023
Dear RBAP Members: For your guidance, attached is Bangko Sentral ng Pilipinas (BSP) Circular No. 797: Enforcement Actions on Banks in relation to Section 123 of Republic Act No. 7653. The said circular is also posted in the BSP website. View/download BSP Circular No. 797
New law allows foreigners to own 60% of rural banks By Delon Porcalla (The Philippine Star) MANILA, Philippines – President Aquino has signed a law allowing foreigners to own up to 60 percent of voting stocks in rural banks. Under RA 10574, signed by the President last May 24, non-Filipino citizens may now own, acquire …
Philippine Star: New law allows foreigners to own 60% of rural banks Read More »
The bill allowing foreigners to invest in rural banks in the country was recently enacted into law. The Rural Bankers Association of the Philippines (RBAP) on Wednesday hailed the signing by President Aquino of the measure that would allow foreign equity in rural banks, saying this would boost the rural banking sector. With the law, …
Philippine Daily Inquirer: New law seen to strengthen rural banks Read More »
Rural banks opened to foreigners FOREIGNERS can now take majority stakes in rural banks after President Benigno S.C. Aquino III approved changes to a law that had limited ownership to Filipinos. Republic Act (RA) 10574 amends the Rural Act of 1992 by allowing foreign investors to own acquire or purchase up to 60% of voting …
Business World: Rural banks opened to foreigners Read More »
The country can expect a stronger rural banks at par with commercial banks in terms of product and services that it can provide to its clientele with the recent passage of Republic Act (R.A.) 10574, which allows foreign investments in rural banks. R.A. 10574, or “An Act Allowing the Infusion of Foreign Equity in the …
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