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BSP issues memorandum to allow BSFI personnel to pass through checkpoints during ECQ

03.23.2020

In order to facilitate continued access to banking services during the enhanced community quarantine (ECQ), the Bangko Sentral ng Pilipinas (BSP) has issued a memorandum to allow BSP-supervised institutions (BSFIs) to pass through checkpoints and report for work in their head offices and branches upon presentation of their BSFI-issued IDs during the implementation of the ECQ.

BSP Memorandum M-2020-10 recognizes identification cards (IDs) issued by BSFIs as sufficient compliance with requirements of the Memorandum of the Executive Secretary on guidelines governing the implementation of the ECQ in the whole of Luzon. This is in line with BSP’s multi-sector efforts to provide continuous banking services during the ECQ.

Assistance from the Philippine National Police (PNP) and Local Government Units (LGUs) frontliners will be instrumental in ensuring that the public’s financial needs are met in these challenging times by BSFIs, particularly, banks, non-bank savings and loan associations, money transfer/remittance companies, electronic money issuers, payment system operators and pawnshops which have been operating with skeleton forces and with stricter social distancing measures.

The BSP assures the public that it continues to cooperate and is part of concerted efforts to manage the nationwide COVID-19 situation.

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