The Central Bank of the Philippines (CBP) has clinched an award from some the world's biggest intergovernmental institutions for its efforts to raise awareness and encourage better use of remittances in Asia's twelfth largest economy.
The CBP received the Global Forum on Remittances and Development's (GFRD) annual 'Public sector award' for an educational push aimed at bolstering the socioeconomic impact of money sent back from Filipinos overseas.
The GFRD is organised jointly by the World Bank,
- Bank of Mexico admits $15.2 million went missing in cyber heist
- Is this the beginning of a new era of credit risk management technology?
- Argentina rescue advances as emerging markets suffer outflows
- BoE research says digital currency would ‘strengthen’ policy transmission
- Artificial intelligence: The future of regulation?