Having a bank account is one of the benefits assured under the Philippine Identification System (PhilSys). Land Bank of the Philippines (LBP) has partnered with the Philippine Statistics Authority (PSA) to co-locate in PhilSys registration sites nationwide and provide unbanked registrants with their own accounts in support of the national government’s financial inclusion agenda. As of Sept. 2, a total of 5.3 million unbanked National ID registrants have opened LBP accounts. “Bringing unbanked Filipinos into the financial mainstream lays the groundwork for inclusive growth, especially as we fast-track initiatives toward economic recovery and sustained development,” LBP president and chief executive
The Intellectual Property Office of the Philippines (IPOPHL) and the Philippine Chamber of Commerce and Industry (PCCI) are calling for innovators to join this year’s Alfredo M. Yao (AMY) Intellectual Property (IP) Awards, an annual joint event of IPOPHL and PCCI to recognize patented and patentable technologies that can contribute to economic development. IPOPHL Director General Rowel Barba said the award’s relevance is heightened today as the country scrambles to find sources for economic recovery. “Efforts to keep the wheels of innovation turning is IPOPHL’s contribution to attract investments, create jobs and build the society stronger,” Barba said in a
The Duterte administration could ask the court to compel the Philippine Red Cross (PRC) to submit their financial records for scrutiny, Chief Presidential Legal Counsel Salvador Panelo said on Sunday. Panelo made this remark as President Rodrigo Duterte repeatedly demanded PRC Chair and Senator Richard Gordon to open the humanitarian organization’s financial records. “For one, kung hindi kusa magbigay ng report (if they won’t voluntarily give the report), we can go to court to compel them to comply with what the law asks them to do,” Panelo said in an interview over DZBB. He said the PRC would have liability
The Bureau of Customs (BOC) has collected PHP11.69 billion in tariffs from 1.74 million metric tons (MT) of rice imports from January to August, which is already 17 percent more than the minimum funding requirement for the annual Rice Competitiveness Enhancement Fund (RCEF) for the following year. Customs Commissioner Rey Leonardo Guerrero said revenues from rice imports during the Jan. 1 to Aug. 29, 2021 period came from shipments worth a combined amount of PHP35.07 billion. The BOC’s improved valuation system also raised the average value of rice imports by 4.1 percent to PHP20,188 per MT during this period from
