(NAR) VOL. 19 NO. 1 / JANUARY - MARCH 2008
"Subject to prior approval of the Monetary Board, banks may outsource the following functions, services, activities:SECTION 2. The foregoing amendment shall likewise apply to the corresponding provisions in the Manual of Regulations for Non-Bank Financial Institutions (MORNBFI).
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16. loans processing, credit administration and documentation services TO its subsidiaries, affiliates and other companies related to it by at least 5 percent common ownership; and
17. such other activities as maybe determined by the Monetary Board,"