Rural and thrift banks may establish microbanking offices (MBOs) in cities and municipalities where microfinance-oriented banking services are unavailable, the Bangko Sentral ng Pilipinas (BSP) said Friday.
The Monetary Board had allowed the establishment of MBOs to help banks extend the reach of their services in areas where it is economically unjustifiable to set up large-scale bank services, BSP Deputy Gov. Nestor Espenilla Jr. said.
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