Philippine c. bank relaxes rules on foreign loans to boost investments

23 December 2017 12:59 am - 1     - {{hitsCtrl.values.hits}}

A A A

REUTERS: The Philippine Central Bank said yesterday it has approved revisions to foreign exchange rules to facilitate financing of private sector investments to boost economic growth. 


Foreign loans meant to fund various types of private sector projects and activities would no longer need prior central bank approval, the Bangko Sentral ng Pilipinas said in a statement. 


The Central Bank said the revised rules only cover loans without guarantee from, and exposure to, any public sector entity. 


Regulators have also reduced substantially the requirements to support applications for registration and purchase of foreign exchange from the banking system. 
“The revised rules aim to further facilitate financing of critical and urgent projects and activities that can contribute to a more vibrant business climate conductive to growth,” the Central Bank said in a statement.

Policymakers have been relaxing foreign exchange rules to make it more responsive to the needs of the economy and easier for businesses and individuals to transact foreign exchange within the banking system. 


The revised rules take effect on Jan. 15, 2018. 

 

 

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

  Comments - 1

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

 
  • michael smith Thursday, 28 December 2017 08:36 AM

    Are you looking for a loan to clear off your dept and start up your own Business? have you being going all over yet not able to get a legit loan Company that will loan you? Here is your final solution, We can give you any amount you need provided you are going to pay back within the period of time given without any problem. Apply now and contact us for more details via email below. Email:michaelsmithloanfunds@gmail.com or text or call us on; 18305415524Thank you and God blessMICHAEL LOANS COMPANY


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Bio Bubble Bursts on tissa safari drivers

Ukrainian tourists are visiting Sri Lanka at present with the involvement of

Army’s LRRP Ambush of LTTE’s Military Intelligence Chief

A news report in the Dailymirror last August stated that the Long Range Recon

“I don’t think Sri Lankans can be realistically ruled by force” -Ahimsa Wickrematunge

Twelve years after the assassination of Lasantha Wickrematunge, the founding

Decisions to be made in Sri Lanka’s hunt for the COVID-19 Vaccine

Around the world, governments are gearing up to roll out nationwide immunizat

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.