Philippines: Announcement of restrictive measures on digital banking for foreign investors
Description
Announcement of restrictive measures on digital banking for foreign investors
In December 2020, the Philippines announced introducing restricted measures on digital banking by capping the maximum participation of non-bank foreign investors at 40%.
Original sourceScope
Policy Area
Foreign direct investment
Policy Instrument
MNE: Entry and ownership rule
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies), digital payment provider (incl. cryptocurrencies), digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
central bank