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Confidentiality in Banking Laws by lawkalawka is a document available to read on EtoBox.

What is Confidentiality in Banking Laws about?

The document summarizes Republic Act No. 1405 which establishes the confidentiality of bank deposits in the Philippines. It prohibits the disclosure of or inquiry into any deposits with banking institutions to encourage people to deposit money in banks rather than hoarding cash privately. Any violation of this law makes the offender subject to imprisonment or fines. It aims to give encouragement to the people to utilize banking institutions for economic development.

Author

lawkalawka

Language

EN