Regulatory Alerts2025-04-15
M-2025-013: Sale of Foreign Exchange Against Philippine Peso by AAB Forex Corps
Bangko Sentral ng Pilipinas issued Memorandum No. 2025-013 to clarify that the sale of foreign exchange against the Philippine Peso by Authorized Agent Bank Foreign Exchange Corporations falls under the Manual of Regulations on Foreign Exchange Transactions. This directive distinguishes such transactions from the general regulatory framework for non-bank financial institutions, ensuring compliance with specific FX Manual provisions. The memorandum mandates adherence to pertinent documentary requirements for transactions with individuals or entities that are not Authorized Agent Banks.
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