BSP Circulars BSP Circular No. 1205BSP Circular No. 1205 2024-12-26T00:00:00.000+08:00

Lifting of the Moratorium on the Establishment of Digital Banks

 2  222 C C   C :CBBBBC 1205 ()C%C3135C C C )(022 ($2%2(2 %&(%&)#2%$2(2'("'#$(2%2("2$!'22 2 2 2 2 C %$*(/C %(;C $C *)C )%"+*%$C %):C 887C *C 15C +"/C 3135C $C 2574C *C29C#(C3135;C&&(%,C*C"*$C%C*C#%(*%(+#C%$C*C($*C%C$-C digital banking licenses, including the conversion of existing bank’s license to digital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licenses, including the conversion of an existing bank’s license to digital bank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   ?2@ #%$)*(*C &*/C *%C %(C +$'+C ,"+C &(%&%)*%$;C %(C ,"%&C $-C $C $$%,*,C +)$))C #%")C **C (C +(($*"/C $%*C %(C %(C ))C /C .)*$C &"/():C C %($C &&"$*C -*CC)%"C!(%+$C$C%%C*(!C(%(C%$C*"C$!$C #/C C %$)(C )C ,$C *C &*/C *%C %(C $-C ,"+C &(%&%)*%$;C &(%,C **C *)C +)$))C #%"C )C +(($*"/C $%*C %(C$C*C%+$*(/=CC ?3@ .*C )$$*C &%*$*"C %C &(%&%)C &(%+*C $C )(,C %($)C$C($C(%(C"$*";C&(*+"("/;C*C+$*&&C %(C+$()(,C#(!*C)#$*)=C$C ?4@ )&"/C)+$*C&"*)C$C($))C*%C&"%/C*(C*"C )%"+*%$)C $C *%C )+)*$"/C (%-C *(C +)$))C -*$C *C "&&$C%$*.*:CC C C &&"$*C )!$C C *"C $!C "$)C #+)*C $)+(C **C C *"C (,-C $C ))))#$*C %C *)C )+&&%(*$C $%(#*%$C *$%"%/C? @C)/)*#)C$C$()*(+*+(C,)AA,)C*)C*"C$!$C +)$))C #%"C )""C C &(%(#C /C C %#&*$*C $&$$*C *(A&(*/C C .&(*:C C *$"C (,-C )""C %,(C C %#&($),C))))#$*C%C*C)$;C)+(*/C%$*(%");C)""*/;C $C()"$C&"*/C%C*C C$()*(+*+(;C$*-%(!;C&&"*%$;C *);C )+(*/C )/)*#);C >C #)+()C$C%*(C &&""C *$%"%)C)+&&%(*$C*C*"C$!$C%&(*%$):CC%&/C%C*C ))))#$*C $C *$"C (&%(*)C )""C C )+#**C *%C *C $!%C $*("C)C&(*C%C*C&&"*%$C('+(#$*):C C C&&"$*C)!$CC*"C$!C"$)C)"";C"!-);C)+#*C*C &&""C ('+(#$*)C $C %($C "*(%$C /#$*)C $C $$"C (,)C ?@C )C $+#(*C +$(C :C 812C ?'+(#$*)C%(C*C($*C%C+*%(*/C*%C%(C@C$C  ! ;C $"+$C *C ")*C $C $*+(C %C #*("C %+*)%+($C (($#$*):CC C : .C.C.C C .C.C.C C 5:CCC C&&"$*C$!C)""CC('+(C*%C#!CC&()$**%$C*%C*C$!%C $*(":C C &()$**%$C )""C %,(C *C %""%-$<C %-$()&C )*(+*+(;C $"+$C );C %C *C &(%&%)C $!C $C *)C ("*C &(*);C C $/=C %(&%(*C &"$;C +)$))C #%";C $C ()+"*)C %C *C )"*/C )*+/=C %,($$C )*(+*+(C ?::;C %(C %C (*%()C $C )$%(C #$#$*@=C #%+$*C $C )%+()C %C &*"0*%$=C ()!C #$#$*C $C $*($"C %$*(%"C)/)*#=C%$)+#(C)))*$C#$)#=C$("C%,(,-C%C*C  >C#)+()C*%CC%&*=C$C%*(C$%(#*%$C(",$*C*%C*C ,"+*%$C%C*C&&"*%$:C 2 .C.C.C 2   2 2  !        ! C 2: $!)C*%CC)*")C)""C%#&"/C-*C*C('+(C#$#+#C&*"C &()(C+$(C:C232C? $#+#C&*"0*%$@:C C C4C%C5C C C

   3: .C.C.C C .C.C.C 2 2 (%$2-.2)C(+"(C)""C*!C*C##*"/C+&%$C*)C&+"*%$C*(C $C*C"C0**C%(C$C$/C$-)&&(C%C$("C(+"*%$:CC C C C CC  C<C C C C Digitally signed by Eli M. Remolona Jr. C Date: 2024.12.26 09:49:40 +08'00'  2 .2  /2 .2 %,($%(C C C C BBC#(C3135C 26  C5C%C5C C C

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