THE Department of Finance (DoF) said there are now five established Financial Institutions Strategic Transfer Corporations (FISTCs) in the country since the law enabling such firms was enacted in February last year.
In a statement on Wednesday, it said the Securities and Exchange Commission (SEC) reported to Finance Secretary Carlos Dominguez 3rd two of the five FISTCs are entirely owned by Filipinos, while the others comprise Japanese and Swiss investors.
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