Rules tightened by Philippine central bank

MANILA - The Philippine central bank said on 11 May that it has expanded the duties and responsibilities of the board of directors of banks to strengthen the banking system.

In a statement, the central bank said that it has released a circular requiring the board of directors of banks "to conduct the affairs of the institution with a high degree of integrity," strictly prohibiting"activities and transactions that could result or potentially result in conflict of interest, personal gain at the

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