The Bangko Sentral ng Pilipinas (BSP) is looking at the alleged non-reporting of a universal bank of DOSRI loans. Consistent with investigation procedures, the BSP is investigating the complaint against the bank. The BSP’s on-going investigation is expected to be concluded soon.
The BSP assures the public that through the years, the BSP has fortified its rules on DOSRI to deter any opportunistic acts of directors, officers, stockholders and related interests (DOSRI) of banks. DOSRI rules are strictly enforced and violations of such rules are serious in nature and are not treated lightly by the BSP.
Rest assured that the Philippine banking system remains fundamentally sound despite the challenges over the years. 2020 proves to be no exception despite the COVID-19 pandemic. The banking system is sound and resilient due to strict implementation of banking regulations.