Philippines central bank calls for urgent reform of secrecy law

Benjamin Diokno
BSP governor Benjamin Diokno
Photo: Axelchard13/Wikimedia

The Philippines central bank urged parliament to immediately pass a reform of the country’s extremely tight bank secrecy laws, which have attracted widespread condemnation.

President Rodrigo Duterte has said he will make a draft law reforming banking secrecy a legislative priority, the central bank announced on August 18.

The president took the move in response to a request for urgent action made by the central bank, the statement said. The draft law will grant more power to the BSP in its

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