MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) said there are two foreign banks that have expressed interest in joining the country’s digital banking space.
Meanwhile, two more companies could potentially compete to become the country’s first Islamic digital bank.
Speaking to reporters during the recent media information session of the BSP, central bank Deputy Governor Chuchi Fonacier said there were two firms with digital banking operations in other countries that want to enter the Philippine market.
READ: BSP reopens window for digital banking applications
But Fonacier, head of the BSP unit that regulates banks, said the two companies have yet to formally submit their applications.
“They’re trying to complete the documentary requirements, but they are very much interested,” Fonacier said.
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Apart from the two, the central bank official said a couple more firms were interested in becoming the first digital Islamic bank in the country.
Fonacier said one company is already a player in the local banking sector while the other is a major Malaysian bank that had expressed its interest during one of the BSP’s Islamic finance roadshows. —Ian Nicolas P. Cigaral INQ
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