The country can expect a stronger rural banks at par with commercial banks in terms of product and services that it can provide to its clientele with the recent passage of Republic Act (R.A.) 10574, which allows foreign investments in rural banks.

R.A. 10574, or “An Act Allowing the Infusion of Foreign Equity in the Capital of Rural Banks, Amending R.A. 7353, Otherwise Known as the Rural Bank Act of 1992 as amended and For Other Purposes,” is a consolidation of House Bill 5360 as amended and Senate Bill 3282 as amended was passed into law on May 24, 2013, lifting the limit on bank ownership that has been a hindrance for the expansion of operations of rural banks for more than two decades.

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