MB enhances, realigns BSP licensing policy

THE Monetary Board enhanced and streamlined the central bank’s licens- institutions to align the regulator with international best practices and improve the

help rationalize and streamline the - ness, it added.

The policy features a three-tier li and submission of applications, the central bank noted.

- tion where compliance with prudential

that does not require compliance and “Type C” covers activities that - requirements were met.

system promotes transparency of with rationalized and simplified prudential criteria.

reject applications that do not meet the criteria and deploy appropriate standards,” it said.

provided the licenses and authorities are in line with their business model the central bank noted.

The enhanced policy is consistent with the mandate to promote a safe