BSP RENEWS ACCREDITATION OF RANG-AY BANK AS RFI
- April 14, 2020
The Bangko Sentral ng Pilipinas (BSP) updated the list of Accredited Rural Financial Institutions (RFIs) in a Circular-Letter issued by BSP Deputy Governor Fonacier dated February 26, 2020. Ten banks are accredited for the purpose of implementing the Agri-Agra Reform Credit Act of 2009 (RA 10000).
BSP’s list of banks approved as RFIs have been listed since 2012 and serves as a guide to inform the public of which banks to approach for agri-agra credit compliance.
RA 10000 aims to provide agriculture, fisheries and agrarian reform credit to improve the productivity of the agriculture and fisheries sectors. The Act considers loans to support activities and projects pertaining to agriculture as stipulated under the Agriculture and Fisheries Modernization Act (AFMA) and the Agrarian Reform Code of the Philippines.
