The Central Bank of the Philippines circulated a Monetary Board decision disqualifying four entities, and any sole proprietorship owned and/or controlled by their respective owners or operators, from registering with the central bank and/or obtaining a central bank licence to engage in activities authorised or supervised by the central bank. The action follows findings that the entities operated as money service businesses without prior registration. The disqualification applies to Hanie Money Services, Jonathan Sarioy Money Changer, Czasha Money Changing and Rajahs Money Changer, which the circular letter lists with locations in Manila, Metro Manila. The circular identifies the owners/operators as Karim B. Jabail, Jonathan A. Sarioy, Mama G. Fernandez and James Michael D. Um, respectively.
Central Bank of the Philippines 2025-01-17
Central Bank of the Philippines disqualifies four unregistered money service businesses from registration and licensing
The Central Bank of the Philippines disqualified four entities and their owners from registering or obtaining a licence due to unregistered money service operations. The entities include Hanie Money Services, Jonathan Sarioy Money Changer, Czasha Money Changing, and Rajahs Money Changer, located in Manila, Metro Manila.