From CapeNews.Net By ELIZABETH W. SAITO August 8, 2014 Forty years ago today, President Richard M.
Circular No. 340 (on branches or loan collection and disbursement points of microfinance-oriented banks)
(enacted in 2002)
Circular No. 340 of 2002, issued by Bangko Sentral ng Pilipinas (BSP), provides the rules and regulations concerning the establishment of branches or loan collection and disbursement points (LCDPs) of microfinance-oriented banks in the Philippines established under Circular No. 273 of 2001, which can be found under Related Laws/Regulations.
This circular consists of the following sections:
- Section 1 Application for authority to establish branches;
- Section 2 Capital requirements;
- Section 3 Additional requirements/restrictions;
- Section 4 Application of rules to branches/LCDPs; and
- Section 5 Sanction.
Circular No. 365 and Circular No. 369, both of which amend and liberalize Circular No. 340 of 2002, can be found under Related Amendments.