MANILA (Reuters) - The Philippines' central bank lifted on Thursday a moratorium on establishing digital banks to promote financial inclusion and digital transformation.
The Monetary Board has allowed a maximum of 10 digital banks to operate in the Philippines, the central bank said in a statement. To date, six digital banks have been operating in the Philippines.
(Reporting by Neil Jerome Morales; Editing by Martin Petty)
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This man says he was double penalized as a result of a scam.
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"We cannot lend in yuan because we have nothing to cover our foreign currency positions with."
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