QC allows banks, pawnshops, microlenders to open under ECQ


The Quezon City government is allowing stablishments providing microfinancing, loans or credit to residents will be allowed to operate under the enhanced community quarantine due to the coronavirus disease 2019 (COVID-19).

Executive Order 29 is meant to ensure the availability of sources of loans and credit to the poor and marginalized, during the ECQ.

Covered by the order are financial institutions supervised by the Bangko Sentral ng Pilipinas (BSP), such as banks, non-stock savings and loans associations, money exchange/remittance companies, e-money issuers, payment system operators and pawnshops.

Financial service cooperatives, credit cooperatives and multi-purpose cooperatives that provide savings and credit to their members, as regulated by the Cooperative Development Authority (CDA) will also be allowed to operate.

Other establishments, duly regulated by governmental authority, providing micro-financing, loans and other forms of credit to unemployed or low-income individuals are also exempted from the ECQ.

These establishments must only deploy a skeletal workforce, who will be allowed to travel to and from their place of operation.

Employees of said establishments are also advised to carry their valid identification card duly issued by their companies for validation purposes by law enforcers.