The Bangko Sentral ng Pilipinas (BSP) on Tuesday vowed to sustain financial reforms and global standards compliance programs down the line following the country’s removal from the European Union’s list of high-risk third countries on June 10, 2025 — the third such delisting this year.
BSP Governor and Anti-Money Laundering Council (AMLC) chairman Eli M. Remolona Jr. emphasized the central bank’s continued push to enhance anti-money laundering and counter-terrorism financing (AML/CTPF) supervision, describing it as critical to strengthening financial sector resilience and global investor confidence.
The EU cited the Philippines’ improved AML/CTPF effectiveness and resolution of past technical issues flagged by the Financial Action Task Force (FATF). Earlier in 2025, the country was also removed from similar lists maintained by the UK and FATF.
The BSP said these developments not only validate its reform agenda but also pave the way for economic benefits such as reduced remittance costs and better access to international banking channels, further supporting inclusive growth and business activity.
The practical impact such delisting on the economy include fewer restrictions Philippine banks and financial institutions face when transacting with international counterparts and correspondent banking relationships with US and EU banks also become easier to establish and maintain.
Also, foreign investors view the Philippines as a low-risk destination and as a result, there could be improved capital flows down the line, analysts said.
