Transparent banking

Bangko Sentral ng Pilipinas Governor Felipe Medalla (center) says the central bank is looking into proposed amendments to the Bank Secrecy Law that will allow a thorough examination of bank accounts with suspicious financial transactions. In a meeting of the Financial Executives Institute of the Philippines in Makati City, Governor Medalla said the amendments being reviewed will strengthen BSP’s capacity to protect depositors from losses due to fraud and other unlawful activities. With Medalla are GlobalSource Partners Philippines country analyst Romeo Bernardo (left) and GT Capital Holdings Inc. independent director Consuelo Garcia.