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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.
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