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Current Human Events & Stories

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BSP wants you to know the Philippine bank notes are hard to counterfeit

Bangko Sentral ng Pilipinas wants you to know that it would be very difficult to produce a counterfeit of the new generation Philippine bank notes now in circulation. With the very stringent process, the bank note paper used made up of cotton with Philippine abaca, and all other security features […]

Peso seen to breach the 54 level to a US dollar in 2018

This should confirm the long suspected plunge of the peso vis-à-vis the US dollar. Now the peso is seen to weaken further beyond the range of 48-50 until the end of year 2017. If it does, which is srongly possible, President Rodrigo Duterte’s economc managers are missing something. Yet, it […]

BSP to demonetize coins: Is it time yet to break open the piggy bank?

Soon, piggy bank savers will have to unload before the coins become worthless. It is because the Philippines’ Bangko Sentral (BSP) is set to release new generation coins with security features before the end of this year. Coins that will have a makeover include the one centavo, fifty centavos, one […]

Bicolanos are too poor to open a savings account – Survey

Many Bicolanos are either living dirt poor, pay check to pay check, do not have money left to put up a bank account, or do not have confidence in the Philippine banking system. Either one of the above could be true. Take a look at the recent finding based on […]

Philippine peso dips on Monday, its weakest yet under Duterte administration

The Philippine peso finished its weakest under the administration of President Rodrigo Duterte on Monday at P48.25 much noticeably lower than the P48.33 in September 15, 2009 but still far from the P47.16 of Nov. 10, 2015. Trying to explain the cause or identify the source as possible culprit, a […]

BSP slaps RCBC P1-B over Bangladesh bank cyber heist

Rizal Commercial Banking Corp. (RCBC) get slapped with a P1 billion fine in connection with the US $81 million cyber bank heist from Bangladesh Bank. The BSP said the policy-making Monetary Board-approved supervisory action against the bank was made “in connection with the special examination conducted by the Bangko Sentral […]

Bangko Sentral scraps permits of Philrem, 2 others

Manila — The policy-making Monetary Board of the Bangko Sentral ng Pilipinas has cancelled the Certificate of Registration of Philrem Services Corp., the remittance service provider facing lawsuits for alleged involvement in the laundering of about US $81 million stolen from Bangladesh Bank in February 2016. The board also cancelled […]

Kim Wong’s lawyer returns $4.63 million of laundered money

About US S4.63 million, part of the $81 million stolen from Bangladesh Bank have been recovered and turned over at the Bangko Sentral ng Pilipinas main office in Manila Thursday afternoon. The money was returned by the lawyer of casino junket operator Kim Wong to officials of Bangladesh, BSP and […]

Money laundering in the Philippines detrimental to OFWs sending remittance

During the Senate hearing on the alleged money laundering case involving a Philippine universal bank Tuesday, OFW advocate Susan Ople disclosed that banks in more than 10 countries and territories have ended correspondent banking operations with Philippine-based banks and remittance companies. These foreign banks, include among others, are those in […]

PH registers P2.5 billion deficit in October

MANILA, Dec 2 — The National Government registered a P2.5 billion fiscal deficit in October, even as expenditures continued in a slower pace than revenues. But instead of delving into the details of the deficit, the National Economic Development Authority, in a statement, was more into highlighting the positive notes […]

Euro countries scramble to bring home gold reserves

Do we ever know how much gold reserves the Philippine government has in its coffers? And how much of the gold reserves are kept in the Bangko Sentral ng Pilipinas’ vault, if ever there is? And where majority of the gold reserves are kept overseas, or what particular country or […]

PH law paves entry of more foreign banks

MANILA, Nov 16 — Brace for the effect or impact on the Philippine banking system now that the Monetary Board has approved the implementing rules and regulations of Republic Act No. 10641. The law which amends R.A. No. 7721 which was passed way back in May 1994 opens the gate […]

What's Recommended

Money laundering in the Philippines detrimental to OFWs sending remittance

During the Senate hearing on the alleged money laundering case involving a Philippine universal bank Tuesday, OFW advocate Susan Ople disclosed that banks in more than 10 countries and territories have ended correspondent banking operations with Philippine-based banks and remittance companies. These foreign banks, include among others, are those in […]

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PH law paves entry of more foreign banks

MANILA, Nov 16 — Brace for the effect or impact on the Philippine banking system now that the Monetary Board has approved the implementing rules and regulations of Republic Act No. 10641. The law which amends R.A. No. 7721 which was passed way back in May 1994 opens the gate […]

Bicolanos are too poor to open a savings account – Survey

Many Bicolanos are either living dirt poor, pay check to pay check, do not have money left to put up a bank account, or do not have confidence in the Philippine banking system. Either one of the above could be true. Take a look at the recent finding based on […]

BSP slaps RCBC P1-B over Bangladesh bank cyber heist

Rizal Commercial Banking Corp. (RCBC) get slapped with a P1 billion fine in connection with the US $81 million cyber bank heist from Bangladesh Bank. The BSP said the policy-making Monetary Board-approved supervisory action against the bank was made “in connection with the special examination conducted by the Bangko Sentral […]

Peso seen to breach the 54 level to a US dollar in 2018

This should confirm the long suspected plunge of the peso vis-à-vis the US dollar. Now the peso is seen to weaken further beyond the range of 48-50 until the end of year 2017. If it does, which is srongly possible, President Rodrigo Duterte’s economc managers are missing something. Yet, it […]

BSP to demonetize coins: Is it time yet to break open the piggy bank?

Soon, piggy bank savers will have to unload before the coins become worthless. It is because the Philippines’ Bangko Sentral (BSP) is set to release new generation coins with security features before the end of this year. Coins that will have a makeover include the one centavo, fifty centavos, one […]

Kim Wong’s lawyer returns $4.63 million of laundered money

About US S4.63 million, part of the $81 million stolen from Bangladesh Bank have been recovered and turned over at the Bangko Sentral ng Pilipinas main office in Manila Thursday afternoon. The money was returned by the lawyer of casino junket operator Kim Wong to officials of Bangladesh, BSP and […]

Euro countries scramble to bring home gold reserves

Do we ever know how much gold reserves the Philippine government has in its coffers? And how much of the gold reserves are kept in the Bangko Sentral ng Pilipinas’ vault, if ever there is? And where majority of the gold reserves are kept overseas, or what particular country or […]

PH registers P2.5 billion deficit in October

MANILA, Dec 2 — The National Government registered a P2.5 billion fiscal deficit in October, even as expenditures continued in a slower pace than revenues. But instead of delving into the details of the deficit, the National Economic Development Authority, in a statement, was more into highlighting the positive notes […]

Bangko Sentral scraps permits of Philrem, 2 others

Manila — The policy-making Monetary Board of the Bangko Sentral ng Pilipinas has cancelled the Certificate of Registration of Philrem Services Corp., the remittance service provider facing lawsuits for alleged involvement in the laundering of about US $81 million stolen from Bangladesh Bank in February 2016. The board also cancelled […]

What's Throwback

Kim Wong’s lawyer returns $4.63 million of laundered money

About US S4.63 million, part of the $81 million stolen from Bangladesh Bank have been recovered and turned over at the Bangko Sentral ng Pilipinas main office in Manila Thursday afternoon. The money was returned by the lawyer of casino junket operator Kim Wong to officials of Bangladesh, BSP and […]

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Bangko Sentral scraps permits of Philrem, 2 others

Manila — The policy-making Monetary Board of the Bangko Sentral ng Pilipinas has cancelled the Certificate of Registration of Philrem Services Corp., the remittance service provider facing lawsuits for alleged involvement in the laundering of about US $81 million stolen from Bangladesh Bank in February 2016. The board also cancelled […]

BSP slaps RCBC P1-B over Bangladesh bank cyber heist

Rizal Commercial Banking Corp. (RCBC) get slapped with a P1 billion fine in connection with the US $81 million cyber bank heist from Bangladesh Bank. The BSP said the policy-making Monetary Board-approved supervisory action against the bank was made “in connection with the special examination conducted by the Bangko Sentral […]

Bicolanos are too poor to open a savings account – Survey

Many Bicolanos are either living dirt poor, pay check to pay check, do not have money left to put up a bank account, or do not have confidence in the Philippine banking system. Either one of the above could be true. Take a look at the recent finding based on […]

BSP to demonetize coins: Is it time yet to break open the piggy bank?

Soon, piggy bank savers will have to unload before the coins become worthless. It is because the Philippines’ Bangko Sentral (BSP) is set to release new generation coins with security features before the end of this year. Coins that will have a makeover include the one centavo, fifty centavos, one […]

PH law paves entry of more foreign banks

MANILA, Nov 16 — Brace for the effect or impact on the Philippine banking system now that the Monetary Board has approved the implementing rules and regulations of Republic Act No. 10641. The law which amends R.A. No. 7721 which was passed way back in May 1994 opens the gate […]

Peso seen to breach the 54 level to a US dollar in 2018

This should confirm the long suspected plunge of the peso vis-à-vis the US dollar. Now the peso is seen to weaken further beyond the range of 48-50 until the end of year 2017. If it does, which is srongly possible, President Rodrigo Duterte’s economc managers are missing something. Yet, it […]