Philippine central bank chief vows faster fund transfers

BSP Gov. Benjamin Diokno.- INQUIRER file photo

MANILA (Philippine Daily Inquirer/ANN): The central bank may soon allow large-scale electronic transactions to be settled through its clearing house during nonbanking days in an effort to make the local payments infrastructure more efficient.

In particular, Bangko Sentral ng Pilipinas Gov Benjamin Diokno said this policy would depend on enhancements currently being prepared for the PESONet framework to make faster cash transfers among banks using this system.