BusinessWorld
February 24, 2021 | 7:53 pm
(Second of two parts)
In last week’s article, I touched on the basic features and provisions of Republic Act No. 11523, also known as the Financial Institutions Strategic Transfer (FIST) Act. The FIST Act aims to buoy struggling economy by increasing liquidity in the financial system. The law will serve as a catalyst for more efficient and less costly transfers of non-performing assets (NPAs), from the custody of the financial institutions (FIs) to FIST corporations (FISTCs), and ultimately to end-users, by granting certain tax and fee privileges on such transactions.
Unquestionably, the concept and spirit of the law is going to be a boon for the ailing economy. Now, the ball is in the court of the regulators who need to draft implementing rules and regulations, to ensure that the vision of the law is fully actualized. These are the factors they need to be considered.
SEC readies online submission tool for financial docs, reports
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SEC plans to go digital on report submissions
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ILIGAN CITY, Feb. 20 (PIA) - To further emphasized digitalization and automation of government transactions without necessitating face-to-face procedures, the Department of Trade and Industry (DTI) Lanao del Norte Provincial Office launched the online Business Name Registration System (BNRS) Kiosk Friday, February 19.
DTI Lanao del Norte Provincial Director Ruel Paclipan said this online kiosk facilitated the end-to-end process implying that a client can already accomplish business name processing with the office all at once.
“Usa ni siya ka initiative nga ang atong mga business registrants dili na musulod pa sa atong opisina… End-to-end na siya, meaning to say, mag-apply siya online, magbayad siya online, siya ra pud mag-print sa iyang certificate. So, it’s an end-to-end process,” he stated.