[ad_1]
MANILA – President Rodrigo Duterte on Friday certified as urgent the approval of two more bills that strengthen the law against money laundering and guarantee the continued resistance of the Philippine financial industry amid the COVID-19 pandemic.
Duterte wants immediate passage of the counterpart bills, House Bill No. 6174 and Senate Bill No. 1412 for the Philippines to meet legal standards for the fight against money laundering and financing. terrorism, as established by the relevant international organizations.
President Duterte certifies as urgent a bill that seeks to strengthen the Anti-Money Laundering Law. | via @jmnpunzalan pic.twitter.com/PbFyCwnDrg
– ABS-CBN News (@ABSCBNNews) October 17, 2020
“Such compliance will avoid adverse findings against the country that could lead, among others, to increased costs of financial transactions, to the detriment of the business sector and our Filipino workers abroad,” Duterte said in separate letters to the president of the House, Lord Allan Velasco. and the president of the Senate, Vicente Sotto III, announced to the media on Saturday.
He also called for the immediate approval of Senate Bill No. 1849 or “A law that guarantees the resistance of the Philippine financial industry against the COVID-19 pandemic.”
President Rodrigo Duterte also seeks the speedy approval of Senate Bill 1849 that seeks to ensure the resistance of the financial industry against the # COVID-19 pandemic. | via @jmnpunzalan pic.twitter.com/CMVFexRgfU
– ABS-CBN News (@ABSCBNNews) October 17, 2020
The move, he said in another letter to Sotto, “will strengthen financial initiatives toward national economic recovery and maintain financial sector stability amid the COVID-19 pandemic.”
Bills certified as urgent are exempt from a rule that requires lawmakers to study the measure for at least 3 days before voting on it.
This is the third time this week that the president has certified bills as urgent.
On Wednesday he sought the speedy approval of Senate Bill No. 1844 that seeks to authorize the President to expedite the processing and issuance of national and local permits, licenses and certifications.
Anti-money laundering, Philippine financial resilience, Rodrigo Duterte, Duterte, invoices certified as urgent,
[ad_2]
