Tag: offshore banking units Philippines

Offshore Banking Units in the Philippines (OBUs)

Updated March 20, 2019 Offshore Banking Units (OBUs) are branches, subsidiaries, or affiliates of foreign banks authorized to do offshore banking in the Philippines. They do foreign-currency banking transactions primarily with foreign banks, non-residents, other OBUs and corporate and institutional clients. They can lend to resident importers and exporters as long as the funds are […]