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 The Bangko Sentral ng Pilipinas (BSP) and participating financial institutions (FIs) have completed the testing for Project Agila, which will allow FIs to transfer funds to each other even during off-business hours, including evenings, weekends, and holidays. These transactions can safely be supported by open-source distributed ledger technology through the Oracle Cloud Infrastructure.
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 The Department of Trade and Industry (DTI), through the Philippine Board of Investments (BOI), has approved a total of P1.58 trillion in investments from January to November 2024. This impressive performance brings the BOI closer to its P1.6 trillion investment approvals target for 2024, with a dramatic 44% increase from P1.101 trillion during the same period in 2023.
 The Insurance Commission (IC) and the National Privacy Commission (NPC) have entered into a Memorandum of Agreement (MOA) to advance the use of Privacy-Enhancing Technologies (PETs) within the insurance industry and other sectors regulated by the IC, including pre-need companies and health maintenance organizations (HMOs). This partnership is designed to strengthen consumer protection, improve data privacy compliance, and uphold the principles of the Data Privacy Act (DPA).
 The Securities and Exchange Commission (SEC) is giving non-compliant, delinquent, suspended and revoked corporations until the end of the year to avail of lower fines and penalties for the late and non-filing of their reportorial requirements.
 The Department of Trade and Industry (DTI) through its attached agency, the Philippine Economic Zone Authority (PEZA), has achieved a record-breaking P201.551 billion in investment approvals for November. This has surpassed the agency’s annual investment target of P200 billion, which indicates that investor confidence is at an all-time high.
 The Bangko Sentral ng Pilipinas (BSP) highlighted the Philippines’ vast potential as an investment destination for Islamic finance during the launch of an Asian Development Bank (ADB) report in Makati City on 26 November 2024.
 On November 05, the Department of Trade and Industry (DTI) and the Department of Information and Communications Technology (DICT) unveiled the eReport System for Online Consumer Complaints within the eGovPH App.
 The Bangko Sentral ng Pilipinas (BSP) launched new financial education course materials for out-of-school youth and adults in collaboration with the Department of Education (DepEd) and USAID Opportunity 2.0 Program.
 The Insurance Commission recently reported that the health maintenance organization (HMO) industry posted a staggering 137.31% growth in its Total Net Income for the quarter ending on 30 September 2024 (3Q 2024) as compared with the same quarter in 2023 (3Q 2023).
 S&P Global Ratings (S&P) raised the Philippines’ credit rating outlook to “positive,” indicating a possible upgrade to an “A-” rating within 24 months, helping lower borrowing costs and making the country more attractive to investors.
Insurance Density Up By 12.44% in 3Q 2024 As Total Premiums Grow By 13.45% in Same Quarter11/22/2024  The Insurance Commission recently reported an increase of 12.44% in insurance density for the quarter ending on 30 September 2024 (3Q 2024). Insurance density, which represents the ratio of total premiums to the population or the approximate spending of every individual on insurance, grew to P2,910.10 in Q3 2024 from P2,588.05 during the same quarter in 2023 (3Q 2023).
 On 21 October 2024, the Insurance Commission (IC) issued Circular Letter (CL) No. 2024-21 declaring the grant of provisional insurance agents’ licenses pending issuance of regular licenses inoperative.
SEC Secures Conviction Against Perpetrators of EMGOLDEX Philippines’ Illegal Investment Scheme11/20/2024  The Securities and Exchange Commission (SEC) has secured the conviction of incorporators of Prosperous Infinite Holdings Phils. Corp. (PIHPC) / operators of EMGOLDEX PHILIPPINES for soliciting investments from the public without necessary license from the Commission.
 The Securities and Exchange Commission (SEC) has directed Capital Markets Integrity Corporation (CMIC) to take over the operations of Equitiworld Securities, Inc. (EQWORLD) to secure the accounts of its customers.
 The Bangko Sentral ng Pilipinas (BSP) announced the launch of a new interest rate swap market on November 18, 2024. This marks a significant step toward boosting trading and liquidity in the domestic bond market. This is part of a plan to deepen the local capital markets. A deeper capital market is expected to enhance savings and investment in the Philippines. As a side benefit, it will also strengthen the transmission of monetary policy.
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Hi, I'm Ralph Gregore Masalihit! An RFP Graduate (Registered Financial Planner Institute - Philippines). A Personal Finance Advocate. An I.T. by Profession. An Investor. Business Minded. An Introvert. A Photography Enthusiast. A Travel and Personal Finance Blogger (Lakbay Diwa and Kuripot Pinoy). Currently, I'm working my way toward time and financial freedom. Connect
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