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September 29, 2023

UAE-based Astra Tech acquires majority stake in Filipino online lender Y Finance Inc.

UAE-based tech company, ASTRA Tech LLC (Astra), has acquired a 90% stake in a local Filipino online lender, Y Finance Inc., to expand its presence in the Philippines’ financial service market.

The acquisition aims to enhance seamless transactions on Astra’s communication platform, Botim, and cater to the large Filipino expat community in the UAE.

Astra’s strategic move seeks to offer innovative financial services and improve the financial well-being of Filipinos residing in the UAE and the Philippines.


BSP and BMAP strengthen collaboration

The Bangko Sentral ng Pilipinas (BSP) and the Bank Marketing Association of the Philippines (BMAP) directors and executives met to enhance their longstanding partnership, focusing on initiatives related to consumer protection, financial literacy, and cybersecurity.

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