The Bangko Sentral ng Pilipinas (BSP) warned the public on Wednesday that CoopHub is not authorized to operate as a Credit Surety Fund (CSF) in the country.
“The Bangko Sentral ng Pilipinas (BSP) advises the public that it has not certified CoopHub and/or any of its representatives and does not certify other persons, associations, cooperatives or organizations to facilitate and implement the BSP’s advocacy of the CSF Program,” the central bank said.
The BSP further advised the public not to have any kind of transactions with CoopHub for “CSF promotional and organization activities” conducted by the BSP for free.
It also urged the public to report incidents or contact the BSP for further clarification.
CoopHub supports MSMEs (micro small and medium enterprises) from idea generation to access to training and capital to marketing support, according to the company website. /ee
