Central bank is independent from AMLC, says BSP official

After the latest remarks of President Rodrigo R. Duterte on Thursday criticizing the central bank and the Anti-Money Laundering Council (AMLC), the Bangko Sentral ng Pilipinas (BSP) on Thursday clarified it is an entity separate from the council.

“One thing we know, we are not serving politics. The BSP remains an independent agency,” BSP Deputy Governor Diwa C. Guinigundo told reporters on the sidelines of a press conference at the central bank head office.

The President on Thursday took note of the central bank in particular as he warned the AMLC that he will charge officials criminally if they do not resign.

“I am warning again, central bank, for the second time ... Hanggang ngayon, there is no report of this AMLC. You know, I am going to charge all of you, criminally. I’ll count one to three and if you do not resign, I will treat you as a drug addict. You’re contributing to the corruption of the country,” Duterte said during a speech after the ceremonial signing of the 2017 national budget in Malacañang.

“You guys there are all corrupt. Bantay kayo sa akin, I will bring you down, the President said.

"Tetangco is about to retire. Better prepare there, ‘cause I’ll give you a whack. You are all corrupt and serving masters. You are not supposed to engage in politics,” he added, referring to BSP Governor Amando Tetangco Jr.

While the AMLC headquarters is in the BSP complex, Guinigundo said the council and the central bank are not one and the same.

As the BSP Governor, Tetangco is the concurrent chairman of the AMLC.

“Baka kasi na-co-connect ni President Duterte ang central bank sa AMLC. It’s an independent body,” Guinigundo said. — VS, GMA News