The Bangko Sentral ng Pilipinas is amending the reporting system of pawnshops to improve the monitoring of the sector’s financial condition and for relevant policies to support the industry growth.
“These high quality individual pawnshop reports support the Bangko Sentral’s determination and formulation of appropriate and responsive regulatory policies, supervisory tools, approaches and interventions, and the pawnshop operator/management’s business decision-making process,” said the BSP in the draft circular.
The proposed circular has a feedback deadline of Aug. 26 to receive pawnshop players’ comments and suggestions.
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