2/4  BIS central bankers' speeches  On the other hand, those who choose to “stay home” so to speak, are not necessarily shielded from heightened competition. Indeed, banks need to have a good competitive strategy even if they are not immediately aspiring to be QABs. We have seen how foreign banks that enter our market reshape competitive forces.
Aside from QABs, even outside the ABIF guidelines, foreign banks can still come into our shores under the purview of RA 10641. As you are aware, our strong fundamentals and sound banking system keep the Philippines an attractive destination for investments.