An Act Providing for the Creation, Organization, and Operation of Digital Banks, Amending for This Purpose Republic Act No. 8791, Otherwise Known as 'the General Banking Law of 2000'
The law creates a new class of “digital banks” that can operate only online, must keep a physical office in the Philippines, and need at least PHP 1 billion in capital. The Bangko Sentral ng Pilipinas (Monetary Board) will issue rules within 90 working days, and existing digital banks have 180 days to meet those rules.
Automated summary by BatasWatch. It may miss nuance — read the bill text before citing it.
Printed from CivicSync PH: https://civicsync-ph-gamma.vercel.app/bills/SBN-1809. Status changes over time; check the link for the latest.
SBN-1809 · Sources: BatasWatch
Similar in what they’d do, filed by any lawmaker.