IMF to PHL: To exit FATF, reform bank secrecy law

Quick Summary:

IF the Philippines is keen on exiting from the Financial Action Task Force (FATF) grey list, the government must continue its recent efforts and reform the bank secrecy law, according to the International Monetary Fund (IMF).

IMF said, however, the national government remains optimistic that it will be able to exit the grey list in February next year.

Madrazo explained that an onsite visit will entail the arrival of a group of experts to a country to verify the progress that was reported to the FATF.

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Article Details

Author / Journalist: Cai U. Ordinario

Category: BusinessStartups

Markets: Philippines

Topics: Continue Grey Visit 2024 Exit Efforts Fatf Philippines Action List Financial

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-23 @ 16:49:11 (6 days ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 491 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 24672071

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Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 61 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 11 hours ago

Coverage Areas: Philippines

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Publication Timezone: GMT +8:00

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Publisher ID: #37

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