2 entities barred from registering with BSP for operating as money service businesses sans registration

The Monetary Board has disqualified the Entities listed below and any sole proprietorship owned and/or controlled by their respective owners/operators from registering with, and/or obtaining a license from, the BSP to engage in any activity that is authorized or supervised by the BSP for operating as MSB without prior BSP registration.

Entity		Location		Name of Owner/Operator[1]
KIDLAT FAST CASH INC.		Rusi Bldg., Sta. Rosa St., Poblacion No. 2 (Barangay 2), Dumaguete City, 6200 Negros Oriental		Ernesto R. Ramas-Uypitching Don T. Ramas-Uypitching Anita S. Ramas-Uypitching Roberto R. Ramas-Uypitching Nikki J. Ramas-Uypitching Antonio S. Ramas-Uypitching Sr. Tyrone T. Ramas-Uypitching Willis R. Ramas-Uypitching Cristina Ramas-Uypitching Joan S. Ramas-Uypitching Sally S. Ramas-Uypitching Cindy J. Ramas-Uypitching Antonio T. Ramas-Uypitching, Jr.
TONG’S MONEY CHANGER		Tangnan, Panglao, 6340 Bohol		Ms. Jered Jane Yap

 

The above disqualification is pursuant to Section 901-N of the Manual of Regulations for Non-Bank Financial Institutions, and is part of BSP’s efforts to address the proliferation of entities engaged in the operation of unauthorized MSBs.

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^[1]   Information on the shareholders was extracted from the latest General Information Sheet of KIDLAT FAST CASH INC., filed by Ms. Nikki J. Ramas-Uypitching, Corporate Secretary per her notarized declaration dated 16 March 2020, obtained via the Securities and Exchange Commission Express System on 19 August 2022.