‘Routine’ transactions exempt from ‘money ban’

  • United States seeks access to Philippine bases as part of Asia pivot

    United States seeks access to Philippine bases as part of Asia pivot

    Reuters
    United States seeks access to Philippine bases as part of Asia pivot

    The United States has asked for access to Philippine military bases in eight locations to rotate troops, aircraft, and ships as Washington shifts its forces to Asia and as China expands its military presence in the South China Sea. U.S. Defense Secretary Ash Carter, in a speech in Arizona, has outlined Washington's next phase in its Asia "pivot", deploying its most sophisticated destroyers, bombers and fighters to the region. The Asia "pivot" has already seen U.S. Marines rotating through the …

  • China rejects Philippines armed robbery claim

    China rejects Philippines armed robbery claim

    AFP News
    China rejects Philippines armed robbery claim

    Beijing on Friday dismissed an accusation by Manila that the Chinese coastguard robbed Filipino fishermen at gunpoint during a confrontation in the disputed South China Sea, calling the claim "inconsistent with the fact". The rebuttal came one day after the Philippine fisheries bureau said that fishermen aboard three vessels with clear Chinese coastguard markings boarded two fishing boats in Scarborough Shoal earlier this month and took the crew's catch. The Scarborough Shoal lies 220 …

  • Indonesia moves Filipino inmate to island before executions

    Indonesia moves Filipino inmate to island before executions

    Associated Press
    Indonesia moves Filipino inmate to island before executions

    JAKARTA, Indonesia (AP) — A Filipino woman facing the death penalty in Indonesia was moved Friday to an island prison where she and nine other drug convicts are to be executed by firing squad. …

  • Pockets of violence erupt in Baltimore after march to protest black man's …

    Reuters

    By Lacey Johnson BALTIMORE (Reuters) - Thousands of people marched through downtown Baltimore on Saturday to protest the unexplained death of a black man in police custody but the demonstrations turned violent when some protesters threw metal objects at officers and broke windows. Saturday's protests began peacefully, with at least 2,000 demonstrators marching to City Hall for a rally, the biggest since 25-year-old Freddie Gray died six days ago, a week after his arrest. Mayor Stephanie …

  • Pakistani security agencies to investigate activist's murder

    Reuters

    Pakistan's military intelligence agencies will investigate the murder of a human rights activist, shot after she hosted a talk on disappearances and killings in Baluchistan province where the army is fighting separatists, the military said on Saturday. Sabeen Mahmud was leaving her Karachi cafe, where she holds art exhibitions and talks, when gunman on a motorcycle attacked her on Friday evening. Prime Minister Nawaz Sharif and the U.S. embassy in Islamabad also condemned the killing. Rights …

By Mikha Flores, VERA Files

THE Commission on Elections is standing pat on its order imposing caps on cash withdrawals but has relaxed it to accommodate concerns of businessmen and monetary authorities.

Comelec promulgated Thursday Resolution 9688-A amending its earlier resolution putting a P100, 000 limit a day for cash withdrawals and checks clearing. Withdrawals that are “routine, regular and made in the ordinary course of business”      are not covered by the ban.

“While we are still limiting it to P100,000  per day, we’re giving discretion to the banks and bank tellers or the bank officials since they have what is known as a customer relationship,” Comelec Chairman Sixto Brillantes Jr. said.

Alam nila kung sino ang kanilang mga customer at depositor na nagwiwithdraw regularly ng lampas P100, 000 (The banks know their customers and depositors who regularly withdraws more than P100, 000). This will all fall under the exemption,” he said.

“In essence, what we’re saying is we are concerned likewise about commerce and business,” said the election chief whose decision to place caps on withdrawals to curb vote-buying raised eyebrows and elicited a polite but strong rejection from the Bangko Sentral ng Pilipinas.

The BSP, which has regulatory authority over the banking industry, said the restrictions “may not be the best way to achieve the goal of ensuring clean and honest elections” as this could disrupt normal business and commercial transactions in the country.

A business leader called it a haphazard measure and implementing it was like “declaring a business holiday” in the country. Justice Secretary Leila de Lima expressed reservations about the constitutionality of the order while President Benigno Aquino ordered the Cabinet’s economic cluster to study the resolution.

Comelec also relaxed its position that the possession and transport of more than P500, 000 is to be presumed for use in vote-buying and electoral fraud as it set rules on Comelec checkpoints enforcing the money ban.

Philippine National Police (PNP) personnel manning the checkpoints should “impose minimum inconvenience” on persons being searched to avoid violations of civil and political rights, the Comelec said.

Searches should also be authorized by a search warrant. Warant-less searches are allowed but only on select cases like a moving vehicle containing more than half a million cash in plain view or if the occupants of the vehicle appear nervous or suspicious.

While well-intentioned, the searches will be difficult to enforce and PNP officials appear ambivalent in implementing the order.

(VERA Files is put out by veteran journalists taking a deeper look at current issues. Vera is Latin for “true.”)

Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • Indonesia defiant as UN leads condemnation of looming executions
    Indonesia defiant as UN leads condemnation of looming executions

    Indonesia on Sunday signalled it was determined to push ahead with the execution of eight foreign drug convicts, despite a growing wave of global condemnation led by United Nations chief Ban Ki-moon. Authorities on Saturday gave formal notice to the eight -- from Australia, Brazil, Nigeria and the Philippines -- that they would be executed by firing squad imminently, along with an Indonesian prisoner. The group have been moved to the high-security prison island of Nusakambangan, where …

  • AFP monitoring deployment of Chinese seaplanes in Spratlys
    AFP monitoring deployment of Chinese seaplanes in Spratlys

    The Armed Forces of the Philippines (AFP) is adopting a wait and see approach amid reports that China will soon deploy seaplanes to further strengthen its maritime claims in the disputed Spratlys. Brig. Gen. Joselito Kakilala, spokesman for the military and commander of the AFP Civil Relations Service, said they have yet to ascertain the real purpose behind China’s continuing aggressive moves in the region. “We will wait and see before coming up with an official stand,” Kakilala said when …

  • Washington bucks China’s aggressive actions
    Washington bucks China’s aggressive actions

    Short of condemning China’s aggressive actions in the West Philippine Sea, a senior US military official said Washington does not support any act of coercion and bullying. “We don’t stand for coercion, bullying and aggressiveness,” said Brig. Gen. Christopher Mahoney, assistant US military director for  Phl-US Joint Balikatan Exercises 2015. At the sidelines of this year’s joint military exercises’ static aircraft display held at Clark Air Base in Pampanga, Mahoney told a media briefing that …

POLL
Loading...
Poll Choice Options