Regulatory Alerts2024-07-19
CL-2024-040: Zed Financial PH, Inc. Authority to Establish and Operate as Non-Bank Credit Card Issuer
The Bangko Sentral ng Pilipinas issued a circular letter announcing that Zed Financial PH, Inc. has been granted authority to operate as a non-bank credit card issuer. The Monetary Board approved this request in Resolution No. 703 dated 19 May 2022, following the company's registration with the Securities and Exchange Commission on 8 May 2024. The Certificate of Authority was issued on 10 June 2024, and the company commenced its operations on 25 June 2024.
FSS Licensing Form No. 02-019 * Version 0 * Updated 10 June 2022 OFFICE OF THE DEPUTY GOVERNOR | FINANCIAL SUPERVISION SECTOR CIRCULAR LETTER NO. CL-2024-___ To : All BSP-Supervised Financial Institutions Subject : Zed Financial PH, Inc. (formerly Zed Philippines, Inc.) – Authority to Establish and Operate as Non-Bank Credit Card Issuer (NBCCI) The Monetary Board, in its Resolution No. 703 dated 19 May 2022, granted authority, and approved the request of Zed Financial PH, Inc. (ZFPI), to establish and operate as non-bank credit card issuer (NBCCI). The ZFPI has registered1 with the Securities and Exchange Commission (SEC) to engage primarily in credit card business and operate as NBCCI on 8 May 2024. The corresponding Certificate of Authority to Operate as NBCCI was issued by the Bangko Sentral ng Pilipinas on 10 June 2024. The ZFPI started its operations on 25 June 2024. For information and guidance. CHUCHI G. FONACIER Deputy Governor 19 July 2024 1 ZFPI was registered with the SEC on 12 May 2021.