All News and Announcements
Philippines: QR Code Transactions Near P1 Billion
The value of transactions using the QR (quick response) technology via the national QR code standard reached almost P1 billion as of end-May, as more Filipinos embrace digital channels amid the pandemic.
Philippines: Microfinance, Micro-entrepreneurs to Gain From National ID System
The system's online authentication and e-KYC will enable a more seamless digital onboarding, making it easier for clients to open an account.
COVID-19 Loans for MSMEs Reach PHP 4.3 Billion
The loans approved under the COVID-19 Assistance to Restart Enterprises program is said to have benefited 29,816 enterprises in the Philippines.
UAE Central Bank Extends Economic-Support Program Until Mid-2022
Banks can draw on the facility to provide new loans and financing to individuals, small and medium-sized enterprises, and other private corporates affected by the virus fallout.
Experian and FinScore to Raise Financial Inclusion in the Philippines via Alternative Credit Scoring
Through this partnership FinScore will intensify its focus on delivering alternative credit scoring to help financial institutions reduce high default rates and prevent fraudulent activity.
New IFC Initiative Helps Banks in Mexico, Philippines, South Africa, Egypt Scale Climate Finance
The program is designed to increase climate lending by participating banks in Egypt, Mexico, the Philippines, and South Africa to 30 percent of their portfolios by 2030.
Amid Pandemic, Household Savings Rise Slightly
Filipino households in the lower-income group, especially those in the rural areas of the country, are still struggling to save.
Philippines Global Financial Inclusion Ranking Slips Further
The global financial inclusion ranking of the Philippines slipped further this year despite improvements spurred by the government’s need to promote digital channels as part of its response to the COVID-19 pandemic.
ADB Loan To Boost Financial Inclusion in the Philippines
"COVID-19 has underscored how important digital systems and contactless transactions are for economic resilience."
Overseas Filipino Worker Remittances May Drop by $5 Billion This Year
Latest data from the Bangko Sentral ng Pilipinas (BSP) showed cash remittances coursed through banks declined by 6.4 percent to $11.55 billion from January to May compared to $12.35 billion in the same period last year.