The Bangko Sentral ng Pilipinas (BSP) has tightened the screening process for individuals seeking to become directors, trustees, officers, or employees of banks and other supervised financial institutions, Philstar Biz reported.
The move is part of the central bank's efforts to strengthen background checks and ensure that key personnel are fit to hold sensitive posts. The new rules apply to all BSP-supervised institutions, including universal and commercial banks, thrift banks, rural banks, and non-bank financial institutions.
The tighter screening aims to enhance governance and risk management within the financial system, aligning with international standards. BSP officials emphasized the importance of having qualified and trustworthy individuals in leadership roles to maintain public confidence.