Incoming Philippine BSP Chief Pushing for Relaxing Bank Secrecy
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
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BSNZ PM (Bangko Sentral ng Pilipinas)
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Nestor Espenilla (Bangko Sentral ng Pilipinas)
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UUID: 7947283
(Bloomberg) -- Incoming Bangko Sentral ng Pilipinas Governor Nestor Espenilla says central bank’s major advocacy is to get monetary authority’s charter amended and relax rules on bank secrecy.
- Secrecy of bank deposits “really creating real challenges in the way we manage our financial systemn and depriving us of opportunities to further expand it,” he says in interview with ABS-CBN News Channel in Manila
- He pledged to pursue “continuity plus-plus” in reforms; plus element seeks to find innovative way to make financial system even more responsive to broader financial community
- “My term would really be defined by our strong commitment to make our financial system truly more inclusive,” he says, adds looking at “ambitious digital financial solutions”
- To transform financial system toward digital space, find ways to reach out to the country’s far regions
- A renewed look at our anti-money laundering rules to make know-your-customer or KYC issue more flexible mechanism, continuing commitment to promote competition both from new players
- To regroup BSP people so can plan transition period
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
Tickers
BSNZ PM (Bangko Sentral ng Pilipinas)
People
Nestor Espenilla (Bangko Sentral ng Pilipinas)
To de-activate this alert, click here
To modify this alert, click here
UUID: 7947283