MANILA, Philippines – President Rodrigo Duterte has signed into law a measure which provides improvements to the Bangko Sentral ng Pilipinas (BSP) Charter. In a tweet Friday, Senator Francis Escudero, one of the authors of the bill in the Senate, thanked Duterte for signing the bill. Executive Secretary Salvador Medialdea confirmed the signing of the law in a text message to reporters. The new law also gives the BSP more teeth in imposing administrative and criminal sanctions, to include, among others, forfeiture of profits from unauthorized financial transactions. Aside from Escudero, the co-authors of the measure in the Senate are Senate President Pro Tempore Ralph Recto, Minority Leader Franklin Drilon, and Sens.

Source: Philippine Daily Inquirer February 15, 2019 13:52 UTC