BSP orders electronic money issuers to buff up war chests

By Cai U. Ordinario @caiordinario

outstanding E-money balance below P100 million may continue to comply with the liquidity requirements by holding eligible liquid assets.

EMIs shall be given one year from the effectivity of the revised regulations to comply.

“The revised guidelines reaffirm the BSP’s commitment to uphold the welfare of Filipinos by promoting a safe, secure, and inclusive financial system,” Medalla said.

Capital requirements their wealth.”

“We will stand by them and let them know if they are on the right track in terms of prosperity, health planning and insurance planning,” Cabognason added.

One of the insurance products customers can avail at the LTS, according to Cabognason, is a 5-year renewable term insurance solution that provides life insurance coverage with protection against critical illness, accident and disability. Moreover, he said financial advisors will also be available for consultation to PNB customers who are interested in Allianz PNB Life’s insurance products.

Allianz PNB Life President and CEO Alexander Grenz was quoted in a statement as saying the LTS represents two things.

First is the good relationship between Allianz PNB Life and PNB, “which has enabled us to hit such milestones in the past few years even through the difficulties of the pandemic. Second is the way we put our customers first.”

“We succeed together because we share in our purpose of securing the future of Filipinos,” Grenz said.

“I think this launch is actually a testament to the never-ending innovations and initiatives that Allianz PNB Life has been embarking on together with PNB,” said PNB Head of Retail Banking Sector Adelia Joson.