BSP CIRCULAR NO. 657, SERIES OF 2009, June 16, 2009
VALID IDENTIFICATION CARDS (IDS) FOR FINANCIAL TRANSACTIONS
item “a” of Circular No. 564 dated 03 April 2007, as amended by Circular
No. 608 dated 20 May 2008 is hereby further amended to read as follows:
“a) Clients who engage in a financial transaction with covered
institutions for the first time shall be required to present the
original and submit a clear copy of at least one (1) valid photo-bearing
identification document issued by an official authority. For this
purpose, the term “official authority” shall refer to any of the
following: (i) Government of the Republic of the Philippines; (ii) its
political subdivisions and instrumentalities; (iii) government-owned
and/or controlled corporations (GO C Cs); (iv) private entities or
institutions registered with or supervised or regulated either by the
Bangko Sentral ng Pilipinas (BSP) or Securities and Exchange Commission
(SEC) or Insurance Commission (IC). Valid IDs include the following:x x x
“ PASSPORTS ISSUED BY FOREIGN GOVERNMENTS SHALL ALSO BE CONSIDERED VALID IDENTIFICATION DOCUMENTS.”
This Circular shall take effect fifteen (15) days following its
publication in the Official Gazette or newspaper of general circulation.
Adopted: 16 June 2009
FOR THE MONETARY BOARD:
(SGD.) DIWA C. GUINIGUNDO
Officer-in-charge