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BSP says cash withdrawal cap not a factor in slowing growth
Business World Philippines
|November 26, 2025
THE Bangko Sentral ng Pilipinas (BSP) said its P500,000 daily cash withdrawal limit was not a factor in the growth slowdown, noting that the policy only took effect near the end of the third quarter.
“Kaka-implement pa lang nun eh before the third-quarter numbers were released (It was just implemented before the third-quarter numbers were released),” Deputy Governor Zeno Ronald R. Abenoja told reporters on the sidelines of a central banking symposium on Monday.
“So, siguro wala naman siya dun sa third-quarter numbers for GDP (gross domestic product). Very recent lang naman ’yung requirements na “yun (So, it was probably not reflected in the third-quarter GDP numbers. Those requirements were very recent),” he added.
In mid-September, the BSP issued a circular imposing a P500,000 daily ceiling on cash withdrawals as an anti-money laundering measure, undertaken in the wake of the flood control corruption scandal.
Account holders are allowed to withdraw a maximum of P500,000 or its equivalent in foreign currency at once or via multiple transactions within one banking day.
Esta historia es de la edición November 26, 2025 de Business World Philippines.
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