Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. called for measures to prevent government financial aid (ayuda) beneficiaries from accessing online gambling.

Remolona also urged stricter enforcement of know-your-customer (KYC) regulations on online gaming platforms.

He stated that accessing online gambling platforms should be more difficult due to the industry’s social impact, which has been identified as a “public health concern.”

“We essentially want obstacles in place. You shouldn’t just open your phone, tap an icon, and immediately enter a gambling site. It should be more challenging,” he said during a panel at the EJAP Economic Forum 2025 in Manila City.

“No one receiving ayuda, in my opinion, should be permitted to gamble. Gambling causes social harm—it doesn’t just hurt the individual but also their family,” he added.

Last week, the central bank announced it was finalizing new regulations for banks, e-wallets, and other financial service providers concerning gambling, including biometric verification and daily transfer limits.

The central bank had earlier proposed a draft circular requiring financial institutions to establish a system enabling users to categorize online gambling transactions separately, subjecting them to stricter controls to protect customers from industry-related risks.

President Ferdinand “Bongbong” Marcos Jr. stated he would consider calls to ban online gambling.

Bangko Sentral ng Pilipinas

The Bangko Sentral ng Pilipinas (BSP) is the central bank of the Philippines, established on July 3, 1993, under the New Central Bank Act to promote monetary stability and oversee the country’s banking system. It succeeded the Central Bank of the Philippines, which was founded in 1949. The BSP plays a key role in economic policy, currency issuance, and financial regulation in the Philippines.

EJAP Economic Forum 2025

The **EJAP Economic Forum 2025** is a high-profile conference focused on economic development, innovation, and policy-making in the Eastern Japan and Asia-Pacific (EJAP) region. Building on previous forums, the 2025 edition aims to address global economic challenges, foster regional collaboration, and promote sustainable growth through expert discussions and networking. While it does not have a long historical background, it continues the tradition of previous EJAP forums in shaping economic strategies for the future.

Manila City

Manila City, the capital of the Philippines, is a historic and bustling metropolis founded in 1571 by Spanish conquistadors. Known for its rich colonial heritage, it features landmarks like Intramuros, the old walled city, and Rizal Park, dedicated to the national hero José Rizal. Today, Manila is a vibrant cultural and economic hub, blending Spanish, American, and Filipino influences.