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Solon: Overhaul RP banking policies By Charlie V. Manalo 05/06/2012

Sunday, May 6, 2012

Solon: Overhaul RP banking policies

By Charlie V. Manalo 05/06/2012

Government should conduct a comprehensive review of its policies and the laws governing the banking sector, House committee on good government and public accountability chairman, Iloilo Rep. Jerry Treas, said Saturday.

Both the Executive and the Congress should coordinate a cleansing process to determine the integrity and financial viability of the existing banking institutions in the country, Treas said as he noted that the closure of the Export and Industry Bank (EIB) has ruined the lives of its depositors, many of them small and struggling businessmen.

Treas said the EIB fiasco only underlines the necessity for a policy overhaul, especially concerning the role of bank officials and their limitations in the conduct of the various business transactions that affect the integrity of the entire banking industry..... MORE

SourceThe Daily Tribune

URL: http://www.tribuneonline.org/nation/20120506nat3.html

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