BSP CIRCULAR NO. 258, September 06, 2000
AMENDING CIRCULAR NO. 1389, AS AMENDED (CONSOLIDATED FOREIGN EXCHANGE RULES AND REGULATIONS)
National Administrative Register September 6, 2000
Pursuant to Monetary Board Resolution No. 1409 dated August 18,
2000, Section 77 of Circular No. 1389 dated April 13, 1993 (Consolidated
Foreign Exchange Rules and Regulations), as amended, is hereby amended
to read as follows:
2000, Section 77 of Circular No. 1389 dated April 13, 1993 (Consolidated
Foreign Exchange Rules and Regulations), as amended, is hereby amended
to read as follows:
“Section 77. Numbered Accounts: — Authorized banks may
adopt a numbered account system. However, in line with Circular 251
dated July 7, 2000, Banks/Non-Bank Financial Institutions (NBFIs) shall
take necessary measures to establish and record the true identity of
their clients, which identification may be based on official or other
reliable documents and records.”
This Circular shall take effect immediately.
Adopted: 6 Sept. 2000
(SGD.) RAFAEL B. BUENAVENTURA
Governor