The Philippines has made significant strides in enhancing its anti-money laundering (AML) and counter-terrorism financing (CFT) efforts, earning recognition from both the International Monetary Fund (IMF) and the Financial Action Task Force (FATF). Read more »
In a welcome surprise for consumers, inflation in the Philippines took a sharp downturn in September, hitting its lowest level in over four years. According to the PSA, the consumer price index (CPI) fell to 1.9 percent year-on-year, down from 3.3 percent in August. Read more »
To modernize financial education, the Bangko Sentral ng Pilipinas (BSP) has introduced its inaugural set of e-learning modules, developed in partnership with the BSP-BDO Foundation (BDOF). Read more »
In a promising development for financial inclusion and efficiency, the Bangko Sentral ng Pilipinas (BSP) proudly announced on Tuesday, July 23, the successful achievement of its goal to raise the share of digital payments in retail transactions to 50 percent by 2023. Read more »
Cash remittances from overseas Filipino workers (OFWs) showed resilience in April 2024, marking a 3.1% year-on-year increase to $2.562 billion, as reported by the Bangko Sentral ng Pilipinas (BSP) on Monday, June 17. Read more »
In a move towards diversifying the financial sector in the Philippines, the Bangko Sentral ng Pilipinas (BSP) announced on Wednesday, April 17, that it is currently in discussions with two institutions eager to establish Islamic banking operations within the country. Read more »
