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2 banks eye Islamic banking units

At least two banks are currently in talks with the Bangko Sentral ng Pilipinas (BSP) to explore putting up either an Islamic bank or Islamic banking unit (IBU) to pursue their previous plans, which were put on hold due to the pandemic. BSP Deputy Governor Chuchi G. Fonacier said the two banks are

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Philippine Central Bank Eyes Relaxed Capitalisation Requirements For Islamic Banks

Philippine Central Bank Eyes Relaxed Capitalisation Requirements For Islamic Banks. Legal News and Analysis - Philippines - Banking & Finance -

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Sulu puts up ATM, CDM building

Sulu puts up ATM, CDM building
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Inflation seen rising this year

Inflation seen rising this year Lawrence Agcaoili © STAR/ File Inflation seen rising this year MANILA, Philippines Economists of private banks have raised their inflation forecasts for 2021 as the economy gradually reopens, according to a survey conducted by the Bangko Sentral ng Pilipinas (BSP). Zeno Ronald Abenoja, senior director of the BSP’s Department of Economic Research (DER), said that private sector economists expect a higher inflation of 2.9 percent this year compared to the original target of 2.8 percent. For 2022, they retained their inflation forecast of three percent. Abenoja said the latest projections of economists are well within the mid-point of the central bank’s two to four percent target for 2021 and 2022.

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