In a circular letter signed by BSP Deputy Governor Chuchi Fonacier dated Dec. 6, the regulator said the Monetary Board has cancelled the certificate of registration of Fil-Express International Remittance & Delivery Services, Inc.
The MSB was found violating a provision under Section 901-N of the BSP's Manual of Regulations for non-bank financial institutions (MORN-BFI) for money service firms.
This was the sixth time that the central bank revoked an MSB's license to operate.
Earlier in November, the Monetary Board cancelled the registration of Uno Forex Inc. to operate as a money changer and forex dealer.
This story is from the January 01, 2025 edition of The Philippine Star.
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This story is from the January 01, 2025 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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