Philippine Star: New law allows foreigners to own 60% of rural banks
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 …
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