SectorWire
SearchRegister
MenuClose

BSP proposes barring gambling products from bank digital marketplaces

Regulation

The Bangko Sentral ng Pilipinas proposed guidelines that would prohibit banks and electronic money issuers from offering gambling-related products and services through digital marketplaces. PAGCOR chairman Alejandro Tengco criticised the draft, saying the regulator had not consulted the agency; PAGCOR reported PHP48.79bn in online gaming revenue in 2023.

The proposed restrictions could limit payment and marketplace channels available to gambling operators.

Request a correction

Flag an issue

Keep reading

Regulation

PAGCOR exclusion list reaches 40,000, Tengco says

PAGCOR has expanded its gambling exclusion programme to about 40,000 people in six months, up from roughly 1,700 before Alejandro Tengco became chairman and CEO. Tengco gave the figures at the launch of Kaban Hotel and Casino in Boracay on 11 October. Approved applicants face a ban of at least one year.

PAGCOR has expanded its gambling exclusion programme to about 40,000 people over six months, up from roughly 1,700 before Alejandro Tengco became chairman and CEO, the regulator's chief said. Tengco gave the figures at the launch of Kaban Hotel and Casino in Boracay on 11 October, according to a report of his remarks.

Continue reading