NON-BANK institutions that seek to function as Electronic Money Issuer-Others (EMI-Others) only have until December 16 this year to apply for a license at the Bangko Sentral ng Pilipinas (BSP) following a two-year moratorium imposed by monetary authorities.
"The Monetary Board, in its Resolution 1549 dated Nov. 11, 2021, approved policy measures in handling applications of non-bank institutions to operate as EMI-Others in line with the Bangko Sentral's efforts to ensure that its resources are managed and mobilized judiciously in a manner that promotes financial stability and inclusive growth, and advances the development of innovative e-money solutions that offer strong value propositions," BSP Governor Benjamin Diokno pointed out in a memorandum released on Thursday.
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