Regulatory Alerts2024-12-15
Lifting of the Moratorium on the Entry of New EMI-NBFIs
The Monetary Board of the Bangko Sentral ng Pilipinas approved the lifting of the moratorium on new Electronic Money Issuer - Non-Bank Financial Institution applications effective 16 December 2024. This regulatory change aims to promote digital payments, enhance financial inclusion, and foster market innovation. Applicants are required to submit evidence-based market studies and meet standard licensing criteria, including capital adequacy and risk management standards, while demonstrating new business models, unserved niches, or new technologies.
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