MANILA—The Bankers Association of the Philippines (BAP) on Friday allayed fears on possible banking services disruption in Mindanao following the declaration of martial law on Tuesday.
“BAP member banks with branches in the region shall continue with normal banking operations,” the group said in a statement.
“We are committed to bring regular banking services even in the areas of conflict to serve clients and the general public,” it said as it urged bank clients “to call or visit your respective branches for assistance.”
Martial law was declared by President Rodrigo R. Duterte while he was on a state visit in Russia after clashes between government troopers and members of Maute terrorist group erupted Tuesday afternoon in Marawi City, Lanao del Sur.
Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco Jr. earlier said reports they received from their offices in Mindanao said “it’s business as usual so far” in the region.
He said the martial law declaration in Southern Philippines is “a very decisive move on the part of the government” and is expected “to improve the security and peace and order situation.”
”There may be some transitory or temporary cautiousness but in the end I think it will lead to a positive impact on sentiment,” he added.