By Katherine K. Chan, Reporter
THE PROPOSED AMENDMENTS to the country’s decades-old bank secrecy law would be a sensible preemptive measure against illicit financial activities, despite being limited to bank officers and employees.
“The Philippines is one the very few countries with this, so (it is) a welcome development to align with global best practices (and) to help improve governance standards,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort told BusinessWorld in a Viber message.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
Login if you have purchased
