Banks told to comply with PWD magna carta

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has reminded banks to strictly comply with laws and regulations against discriminatory practices to persons with disabilities (PWDs).

BSP Deputy Governor Chuchi Fonacier said banks and financial institutions should take into account the needs of PWDs, including those with learning difficulties, deaf or hard of hearing, and the visually impared.

“This is to ensure that their rights as PWDs to participate fully in the social life and enjoyment of opportunities available to other citizens are upheld at all times,” Fonacier said.

The BSP issued Memorandum 2021–040 reminding BSP-supervised financial institutions (BFSIs) to refrain from discriminatory practices to PWDs pursuant to Republic Act 10754 that amended RA 7277 or the Magna Carta for Disabled Persons, as well as Batas Pambansa 344 and Executive Order 4177.

The BSP has also issued regulations on fair treatment and effective recourse under the Manual of Regulations for Banks (MORB) and the Manual of Regulations of Non-Bank Financial Institutions (MORNBFI), as well as Circular No. 1048 and customer acceptance and identification policy.

“All BSFIs are sternly reminded to adhere to laws and regulations against discriminatory practices toward PWDs,” Fonacier said.

Discriminatory practices, the BSP said, include non-acceptance of government-issued PWD identification cards for the opening of accounts and other financial transactions, as well as turning away visually impaired persons from opening bank accounts.

The regulator said another discriminatory practice is requiring the visually impaired customers to open only joint accounts.

Apart from mobility ramps and Braille system in bank premises and ATMs, Fonacier said all BSFIs are also reminded to provide express lanes for PWDs, similar to those express lanes reserved for senior citizens and pregnant women within their premises.