New BSP charter ratified in the House

 

 

By Rose de la Cruz

 

The House of Representatives has ratified the new charter of the Bangko Sentral ng Pilipinas which hikes the capitalization from P50 billion to P200 billion and gives it more forceful and disciplinary powers over banks and other financial institutions that it regulates in the country.

 

Rep. Henry Ong, 2nd District of Leyte, who chairs the committee on banks and financial intermediaries, said this after the House ratified the approved bicameral conference committee version of the bill amending the BSP charter.

 

"In layman's terms, the amendments make it easier for the BSP to find…

Read more: New BSP charter ratified in the House

Institutionalize monitoring & evaluation in govt.—Pernia

 

In a gathering of monitoring and evaluation (M&E) practitioners in the country, the National Economic and Development Authority sought to refine the proposed guidelines on the official framework for evaluating government programs and projects.


Guidelines for the National Evaluation Policy Framework (NEPF) will spell out, among others, procedures, tools, and templates that managers in government may use in designing, commissioning, and assuring the quality of evaluations.

 

The NEPF was drafted and approved in 2015 through DBM Joint Memorandum Circular No. 2015-01.

 

M&E are indispensable elements of effective, data-driven policy-making. The process should not be considered as an afterthought…

Read more: Institutionalize monitoring & evaluation in govt.—Pernia

 Bill on Islamic banks approved on 2nd reading

 

By Rose de la Cruz

 

Congress has approved on second reading House Bill 8281 providing for the regulation and organization of Islamic banks in the country, moving the Philippines a step closer to opening Mindanao and the rest of the country to the wide range of banking and financial services.

 

The consent for the bill was made last November 13.

 

"Eventual enactment of this law would be one of the historic moments in Philippine Banking history. The country's first Islamic bank was created in 1972. With this imminent new law, there will be more Islamic banks not just for…

Read more: Bill on Islamic banks approved on 2nd reading

1st BSP-sponsored Financial literacy expo on Nov. 27-28 at SMX

 

 

 


The first Bangko Sentral ng Pilipinas (BSP)-sponsored Financial Education Stakeholders Expo will be held on Nov. 27-28 at the SMX Convention Center in Pasay City.

 

The Expo supports Republic Act No. 10922 which designates the second week of November as Economic and Financial Literacy Week. It is also aligned with the objectives of the National Strategy for Financial Inclusion, particularly the pillar on Financial Education and Consumer Protection.


The 2018 Expo will convene and connect stakeholders from the public and private sectors, provide venue for sharing their financial education initiatives, and encourage productive partnerships. Expo speakers…

Read more: 1st BSP-sponsored Financial literacy expo on Nov. 27-28 at SMX

MB raises interest rates to 4.75%

 

 

By Rose de la Cruz

 

The Monetary Board on Thursday raised the interest rate on Bangko Sentral ng Pilipinas’ overnight reverse repurchase facility by 25 basis points to 4.75 percent effective today, Nov. 16, along with the interest rates on overnight lending and deposit facilities.

 

While the latest inflation forecasts show inflation settling within the target band of 3.0 percent ± 1.0 percentage point in both 2019 and 2020, after considering the impact of non-monetary measures, including the rice tariffication bill and the suspension of the oil excise tax, the Monetary Board decided to raise the policy…

Read more: MB raises interest rates to 4.75%

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