From CapeNews.Net By ELIZABETH W. SAITO August 8, 2014 Forty years ago today, President Richard M.
Circular No. 268 (outsourcing certain banking functions)
(enacted in 2000)
Circular No. 268 of 2000, issued by the Bangko Sentral ng Pilipinas (BSP), specifies the duties and responsibilities of banks when outsourcing banking functions. The circular also lists banking functions which cannot be outsourced. Finally, the circular provides information on the penalties involved for violating its provisions.