IN a July 16, 2020 article, I mentioned that relaxing our bank secrecy rule was key to financial integrity. At that time, we had been touted as one of two countries (the other being Lebanon) with the strictest bank secrecy rules. As of today, thus, we are the only country in the world with the strictest bank secrecy rules. They said: "Indeed, the proposed Bank Deposits Secrecy Bill has wide-reaching implications. It will also save our country not just from embarrassment but also from the negative effects of being known as the country with the most stringent bank secrecy rules in the world.

Source: Manila Times June 09, 2021 17:26 UTC