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 Rural Bankers Association of the Philippines (RBAP) expressed gratitude to President Benigno Simeon Aquino III for signing into law the Foreign Equity Bill or Republic Act (RA) 10574, saying this will help create an environment conducive to economic growth in the countryside. “The passage of the Foreign Equity Bill into a law is a …
RBAP lauds PNOY for signing Foreign Equity Bill into law Read More »
08 May 2013 The Rural Bankers Association of the Philippines (RBAP) is waiting for ‘official final orders’ from the Bangko Sentral ng Pilipinas (BSP) before implementing the recently issued resolution of the Commission on Elections (Comelec), limiting cash withdrawal transaction to P100,000. “We will respect and follow the decision of the BSP as a regulating …
The mission of the Rural Bankers Association is to support the ability of its members to offer quality banking services to all their constituencies, comply with regulatory requirements, and to promote the welfare of the communities in which they operate.
