The central bank is allowing the creation of a Personal Management Trust (PMT) that will addresses calls from persons who have no capacity or who do not see the necessity of appointing third-party beneficiaries in trust arrangement.
In a statement on Thursday, the Bangko Sentral ng Pilipinas (BSP) said it has approved the guideline for the creation of a PMT in line with the policy to promulgate rules and regulations for the development of the fiduciary business.
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