From American Banker By TAMAR FRANKEL July 10, 2014 Many contributors helped bring about the most...
Circular No. 564 (valid identification cards for financial transactions)
(enacted in 2007)
Circular No. 564 of 2007, issued by the Bangko Sentral ng Pilipinas (BSP), concerns valid identification cards for financial transactions in the Philippines. The circular governs the acceptance of valid identification cards necessary to engage in any type of financial transaction for banks and non-bank financial institutions. The purpose of the circular is to promote access of Filipinos, particularly those residing in remote areas, to services offered by formal financial institutions, particularly those residing in remote areas.