“Now we have a threshold on how much cash can be withdrawn, now there will be a threshold on transfers in general — could be cash, could be digital,” Remolona told reporters in a briefing at the BSP headquarters in Manila City.
The Bangko Sentral ng Pilipinas (BSP) on Thursday said it is looking at implementing caps on the transfers of funds and allowing banks to refuse suspicious withdrawals, as it seeks to implement more measures that would address the ongoing corruption issues on government spending, particularly on infrastructure projects.
According to BSP Governor Eli Remolona Jr., the central bank is studying more measures that would deter the use
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