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DUTERTE NEWS: Congress Asked by President Duterte to Pass Bill Lifting Bank Secrecy Rules

DUTERTE NEWS – Philippine President Rodrigo Roa Duterte desires for a bill lifting the bank secrecy rules.

The banks in the Philippines observe the bank secrecy rules. It is a major protocol to the banking staffs to keep the accounts of their clients confidential.

In line with it, the right to ask for certain details regarding his or her account is reserved to the owner of the said account. All the information are considered highly confidential whether the owner is a private individual or a public figure.

Recently, a Duterte News stating that President Rodrigo Roa Duterte desires for a bill that seeks the lifting of the bank secrecy rules be passed crossed the surface.

Rodrigo Roa Duterte
ALBERT ALCAIN/ Presidential Photo

Based on a report on GMA News Online, President Rodrigo Roa Duterte asked the Congress to pass a bill lifting the bank secrecy rules for cases of fraud.

Furthermore, the President desires that the bill includes the automatic exchange of information and measures to make sure that the declared assets are true.

President Duterte
Photo Source: Philstar

Based on the report, Senate Pres. Vicente “Tito” Sotto III spoke on the desire of Pres. Duterte. According to him, they would have to talk with the members of the executive department first regarding the “parameters”.

The Senate President expressed that a discussion between them and the executive department is needed to avoid wasting time and effort and even money.

Senator Tito Sotto
Photo Courtesy of Inquirer/Lyn Rillon

On the part of opposition Sen. Antonio Trillanes IV, he branded the desire of Pres. Duterte as “pure lip service”. According to him, the President even does not want to sign a waiver for the opening of his account.

IBP on Antonio Trillanes IV Amnesty Grant
Photo: Inquirer/EDWIN BACASMAS

Pres. Duterte nor any from his camp has yet to react to the comment of the Senator on the President’s desire. We’ll keep you posted for updates.

What can you say about this Duterte news regarding the desire of President Rodrigo Roa Duterte for a bill seeking the lifting of the bank secrecy rules?

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