Category: BUSINESS
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PDIC covers Islamic banks, Islamic banking units
The Philippine Deposit Insurance Corporation (PDIC), the state deposit insurer, announced through Bulletin 2024-09 that Islamic banks (IBs) and Islamic banking units (IBUs) in the country are now officially covered by the Philippine deposit insurance system following amendments to Republic Act No. 3591 (PDIC Charter). Deposit insurance coverage for IBs and IBUs is a significant…
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PBBM arrives in Malaysia for ASEAN Summit
President Ferdinand R. Marcos Jr. arrived in Malaysia on Sunday for the 46th Association of Southeast Asian Nations (ASEAN) Summit, where he will join regional leaders to discuss key developments and shared goals for the region. The aircraft carrying the President and members of the Philippine delegation touched down at 5:41 p.m. (local time) at…
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Spot the scam BDO Foundation and SEC team up to protect Filipino investors
Shared commitment to empower Filipinos through education. BDO Foundation highlights the importance of collaborating with organizations like the SEC who share the same advocacy in helping Filipinos make smarter decisions in managing their finances. (Photos courtesy of the SEC) When an investment opportunity sounds too good to be true, it’s probably a scam. Unfortunately, it can…
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MB closes Oriental Tamaraw Rural Bank of Naujan (Oriental Mindoro), Inc. PDIC to pay all valid insured deposit claims
The Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP) prohibited Oriental Tamaraw Rural Bank of Naujan (Oriental Mindoro), Inc. from doing business in the Philippines through MB Resolution No. 437.B dated May 8, 2025, which also directed the Philippine Deposit Insurance Corporation (PDIC), as Receiver, to proceed with the takeover and liquidation of…
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Better birthing facilities for moms, thanks to BDO Foundation
Many of the more than 210 health facilities across the country rehabilitated by BDO Foundation house birthing clinics that address the needs of pregnant mothers. One such facility is CHO Panganakan ng San Jose in Nueva Ecija, which was recently renovated by the foundation as part of continuing efforts to help improve the healthcare delivery system in the country.…
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Various PDIC, closed bank assets for sale via public e-bidding from May 28 to 29
The Philippine Deposit Insurance Corporation (PDIC) will sell 76 corporate and closed bank properties through electronic public bidding (e-bidding) from 28 to 29 May 2025. Electronic bids will be accepted through the PDIC e-bidding portal, https://assetsforsale.pdic.gov.ph, starting at 9:00 AM on 28 May 2025 until 1:00 PM on 29 May 2025, and will be opened…
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PDIC promotes the importance of saving in banks through DTI consumer learning session
Consumer protection through deposit insurance. The Philippine Deposit Insurance Corporation (PDIC) and the Department of Trade and Industry (DTI) recently collaborated for a consumer learning session for DTI employees and the public to promote the importance of saving in banks to protect one’s future. PDIC Vice President Jose G. Villaret, Jr. (Corporate Affairs Group) served…
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PDIC, Korean counterpart renew bilateral cooperation agreement
The Philippine Deposit Insurance Corporation (PDIC) and the Korea Deposit Insurance Corporation (KDIC) signed a memorandum of understanding (MOU) on bilateral cooperation to further sustain the cross-border relations between the two deposit insurance agencies (DIAs), a collaboration forged as early as 2014. The MOU was signed by PDIC President and CEO Roberto B. Tan and…
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PDIC supports rural banks in empowering communities through financial innovation
Allies for community empowerment. The Philippine Deposit Insurance Corporation (PDIC), represented by Vice President Niño Ray L. Villaluna (Examination Group I), recognized the important role that rural banks play in empowering communities and promoting financial inclusion, during the recently concluded Annual Management Conference of the Confederation of Central Luzon Rural Banks (CCLRB) held in Clark,…
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CREATE MORE roadshow makes 1st int’l stop in Seoul
The Board of Investments (BOI) will lead the first stop of the international roadshow for Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) in Seoul, South Korea on April 7. The BOI said Philippine Business Forum next week at the Grand Hall of the Korea Chamber of…