MB Resolution No. 1340 dated 11 August 2017 - Prohibition of the World Partners Bank (A Thrift Bank), Inc. From Doing Business in the Philippines

BANeKo SexrnaL No PILIPINAS OFFICE OF THE DEPUW GOVERNOR SUPERVISION AND EXAMINATION SECTOR CIRCULAR LETTER NO. CL -2017 - 047 To ALt BANKS AND NON.BANK FINANCIAT INSTITUTIONS Subject : MB Resolution No. 1340 dated August 2017 ll Prohibition of the World Partners Bank (A Thrift Bank), Inc. From Doing Business in the Philippines Notice is hereby given that the Monetary Board, in its Resolution No. 1340 dated 11 August 2017, decided to prohibit the World Partners Bank (A Thrift Bank), Inc., from doing business in the Philippines pursuant to Section 30 of Republic Act (R.A.) No. 7653 (The New Central Bank Act). The Philippine Deposit Insurance Corporation has been designated as Receiver with a directive to proceed with the takeover and liquidation of the aforementioned thrift bank in accordance with Section 12 (a) of R.A. No. 3591 (PDIC Charter), as amended For information and guidance. l/??Ta-t CHI G. FONACIER -/' eputy Governor 11 August 2017 A. Mabini st., Malate 1004 Manila, philippines - (6317a&-t7o1[ o www.bsp.gov.ph . [email protected]