BSP Circular Letters BSP Circular LetterBSP Circular Letter 2005-07-26T00:00:00.000+08:00

The establishment of Bank Al Bilad in Saudi Arabia

CIRCULAR LETTER Series of 2005

TO:  ALL BANKS

Subject : The establishment of Bank Al Bilad in Saudi Arabia

Attached is a self-explanatoly letter dated 29 May 2005 of the Governor of the Saudi Arabian Monetary Agency Informing the Bangko Sentrai ng Pilipinas of  the commencement effective 5 May 2005, of the operations of Bank Al Bilad. The Bank was formed by a merger of eight (8) Money Exchange Companies that have effectively ceased operations.

For information and guidance.

NESTOR A. ESPENILLA, JR. Deputy Governor

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