MG 5 invites BSP for monthly Knowledge Session

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MG 5 conducted a knowledge session on Anti-Money Laundering (AML) and a short briefing on International Financial Reporting Standards (IFRS) 9, Financial Instruments, last August 5 at the WSDC training room 3. The event was organized by Senior Director Cathy Biliran for the benefit of MG 5 partners and managers. It included updates and insights concerning relevant topics and issues in the banking industry.

The main speaker for the first part of the session was Atty. Julia C. Bacay-Abad, from the Anti-Money Laundering Council (AMLC) Secretariat of the Bangko Sentral ng Pilipinas (BSP), who gave an informative lecture on the updates and changes in AML related laws, policies and its impact to business practices.

The recently released IFRS 9 was also tackled at the second part of the program by managers Redgienald Radam and DJ Del Mundo, who discussed the standard’s impact on the banking industry due to its slated implementation in 2018.