The Bangko Sentral ng Pilipinas (BSP) has announced recently the selection of Hyperledger Fabric as the distributed ledger technology (DLT) for its wholesale Central Bank Digital Currency (CBDC) pilot project: Project Agila, formerly known as “Project CBDCPh.” Project Agila aims to orient the BSP and participating financial institutions on CBDC technology solutions that have the […]
The Bangko Sentral ng Pilipinas (BSP) announced recently that it has successfully engaged with the Philippine Embassy in Riyadh, Kingdom of Saudi Arabia in promoting the BSP’s initiatives to develop Islamic banking and finance in the Philippines. BSP Assistant Governor Atty. Arifa A. Ala, Lead Advocate on Islamic Banking and Finance and also the Chairperson […]
In a speech delivered during the Post-State of the Nation Address Philippine Economic Briefing (PEB) in Laoag City, Ilocos Norte, Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. underscored the BSP’s commitment to further championing its sustainability agenda in the financial system. “We want to strengthen our programs for sustainability, but we want […]
The City of Mandaue recently joined other cities and provinces throughout the country in supporting the Bangko Sentral ng Pilipinas (BSP)’s payment digitalization campaign after launching the Paleng-QR Ph Plus program at the Mandaue City Public Market. The program launch, which aims to promote digital payments in markets, public transport, and other key establishments, was […]
In its 30th year, the Bangko Sentral ng Pilipinas (BSP) has reaffirmed its commitment to adopt global central banking standards and transition to a digital financial system while promoting price stability, financial stability, and an efficient payments and settlements system in the country. Over the years, subsequent amendments to Republic Act (RA) No. 7653 or the […]
“The Bangko Sentral ng Pilipinas (BSP) will continue to strengthen rural banks (RBs), which promote countryside development, by financing productive activities and supporting inclusive economic growth.” BSP Deputy Governor (DG) Francisco G. Dakila Jr. made this announcement during the Post-State of the Nation Address (SONA) Philippine Economic Briefing (PEB) held in Cebu City last August […]
Mocasa, the Philippines’ first virtual credit wallet, recently announced its partnership with AF Payments Inc. (AFPI), an automated fare collection service provider that offers cashless payment solutions to the Filipino public through its beep™ card — a platform developed by AFPI to unify payment collections on all the three rail transport lines in Metro Manila. […]
The Bangko Sentral ng Pilipinas (BSP)’s Coin Deposit Machines (CoDMs) have started to gain traction, with a number of Filipinos heeding the central bank’s call to address the artificial coin shortage in certain areas of the country by depositing their idle coins in these machines. As of July 31, 2023, the BSP reported that the […]
The Bangko Sentral ng Pilipinas (BSP), represented by Assistant Governor Atty. Arifa A. Ala, participated in the 9th Annual Philippine Property and Investment Exhibition (PPIE) and the inaugural of the Philippine Economic and Investment Summit (PEIS) held last May at the Radisson Blu Hotel in Dubai, United Arab Emirates (UAE). At left: BSP Assistant Governor […]
The Bangko Sentral ng Pilipinas (BSP) has just issued an advisory informing the public that the legal tender limit of Philippine coins per transaction has been increased under BSP Circular No. 1162, series of 2022. According to the BSP, the upward adjustment in the legal tender limit was meant to promote the use of coins […]
