Central Bank of the Philippines open to Qatar-based funding

Vlad Macovei

10 Aug 2020 / 5 Min Read

The nation’s reserve bank has been open to several different ideas and supporting regulations that would introduce new types of digital transactions in the country’s banking sector and help nonbank financial institutions with adopting the latest digital technology. This comes as part of the nation’s strategic planning to conduct at least 30% of all transactions via online or digital platforms.

The BSP has dedicated an entire subsector to fintech related activities and projects. Also, the country supports digital banking. The Philippines has made progress with adopting Islamic banking. It’s important to offer all-digital, Shariah-compliant fintech solutions to the market, as there’s a lot of demand for these services, according to BSP staff.

Countries:

Philippines

Vlad Macovei

10 Aug 2020 / 5 Min Read

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