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Philippines central bank lifts moratorium on establishing digital banks

Tan KW
Publish date: Thu, 08 Aug 2024, 02:52 PM
Tan KW
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Future Tech

MANILA - The Philippines' central bank lifted on Thursday a moratorium on establishing digital banks to promote financial inclusion and digital transformation.

The Monetary Board has allowed a maximum of 10 digital banks to operate in the Philippines, the central bank said in a statement. To date, six digital banks have been operating in the Philippines.

 


  - Reuters

 

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