DOSRI,

to secure prior written approval by the majority of all the directors of the board.

“The BSP is right on track on relaxing the [prudential reporting] requirements,” Colegio de San Juan de Letran Graduate School Dean Emmanuel J. Lopez said in a text message, noting such moves will improve local investment interest.

The country placed 95th in the World Bank Doing Business 2020 report, improving from its 124th place in 2019. However, it still placed seventh among 10 Southeast Asian Nations and was only better than Cambodia (144), Laos (154), and Myanmar (165).