PH banking regulation should be market driven

CHANGES to monetary policy tools and other key regulations such as the Anti-Money Laundering Act should be ‘market driven’ to support the competitiveness of the Philippine banking sector, the head of Maybank Philippines told The Manila Times in an exclusive interview on Tuesday.

Maybank Philippines President and CEO Herminio Famatigan Jr. made the suggestion in response to questions about possible changes to the country’s existing anti-money laundering law, and the reserve requirement ratio imposed by the Bangko Sentral ng Pilipinas (BSP) on the other.