1. What is the purpose of the Manual of Regulations for Banks (MORB)?

o The Manual of Regulations for Banks (MORB) purpose is to examine the books of our
financial institutions, guide and regulate the banks, and also correct if there’s wrong
with the banks. MORB serves as the basis of the Bangko Sentral ng Pilipinas in exertion
its authority and powers in regulating of all banks within the Philippines.
2. Explain the process of money laundering?
o Money laundering works when the launderer doing illegal activities like drug trafficking,
illegal gambling, and much more to obtain money where they assign everyone in the
group to circulate the money in different banks to make it difficult to trace the
transactions and identify the launderer.
3. What is the purpose of the Anti-Money Laundering Act (RA 9160)?
o The purpose of Anti-Money Laundering (RA 9160) is to examine all the depositor's
accounts that are suspected to be used in illegal activities and to protect from
examination of accounts or under the law of secrecy of bank deposits to maintain its
confidentiality.
4. Describe the Anti-Money Laundering Council and its purpose.
o The Anti-Monetary Laundering Council (AMLC) is the agency of the Government of the
Philippines that is tasked to supervise the implementation of Republic Act of No. 9160
“Anti-Monetary Laundering Act of 2001”. Its purpose is to protect and preserve the
financial system including the confidentiality of all bank accounts.
5. Differentiate the following types of banks according to their role and function:
o GOVERNMENT BANKS

Role & Function

 The role of Government banks is to help specific locations to reduce poverty and
also provide capitalization to selected areas.
 The function of Government banks is to provide financial services to its
Government Servicing Companies like SSS, GSIS, PAG-IBIG Fund, and much more,
including their employees and retirees.
o ISLAMIC BANKS

Role & Function

 The role of Islamic Bank is to provide financial services to those areas who have a
large populations of Muslims.
 The function of Islamic Bank is to provide banking services like savings, current
and general investment accounts for both Peso and Dollar denominated
accounts.

o UNIVERSAL BANKS

Role & Function

 The role of Universal banking is to provide all financial services that already in
wholesale banking, retail banking, and investment banking within one
organization.
 The function of Universal banking is to offer credit, loans, financial analysis,
securities transaction, and much more.

o COMMERCIAL BANKSS

Role & Function

 The role of Commercial banks is to offer services like cash, disbursement, accept
deposits, and offering time deposits.
 The function of Commercial banks is to create money by giving high interest
loans from businesses, mortgages, and personal loans.

o SAVINGS BANKS

Role & Function

 The role of Savings banks is to accept saving deposits and paying interest on
those deposits
 The function of Savings banks is to accept the savings of the depositors and
giving them interest. Meanwhile, the savings of the depositors is going to
allocate by the bank and they invested it on the other companies.
o THRIFT BANKS

Role & Function

 The role of Thrift banks is to accept consumer deposits and make home
mortgages.
 The function of Thrift banks is to mobilize the savings of the people and provide
loans at a reasonable interest rates.

o RURAL BANKS

Role & Function

 The role of Rural banks is to provide financial services to those rural areas, in
order to improve its socio-economic conditions.
 The function of Rural banks is to give the credit need of the poor consumers and
farmers and fishermen with high interest rates for banks to gain profit.