11256, An Act to Strengthen the Country’s Gross International Reserves, was approved by Congress and signed by President Duterte on March 29, 2019. The new law exempts from excise and income tax the sale to the BSP of gold sourced from small-scale mining activities. • RA No.
11439, or An Act Providing for the Regulation and Organization of Islamic Banks was signed by the President on August 22, 2019. • The BSP plays a supportive role in the promotion of inclusive economic and social development objectives of the government through its advocacy programs aimed at promoting financial inclusion.