Bangko Sentral ng Pilipinas (BSP) Deputy Governor Nestor A. Espenilla Jr. said the central bank will be amending the identification (ID) card requirements for banking transactions. Espenilla said the Monetary Board will require only one ID card instead of two and will expand the list of valid IDs that can be used for banking transactions. With the relaxation of the 'know your customer' (KYC) rules, transactions will be more convenient for more people, particularly in the rural areas where the multiple ID requirement has hampered bank patronage, Espenilla said.
in Manila Times by Maricel E. Burgonio
Thursday, May 15, 2008
Source