dollar (USD) Others (Not Convertible With BSP): Argentina Peso (ARS) Brazil Real (BRL) Denmark Kroner (DKK) India Rupee (INR) Malaysia Ringgit (MYR) Mexico New Peso (MXN) New Zealand Dollar (NZD) Norway Kroner (NOK) North Korea Won (KPW) Pakistan Rupee (PKR) South Africa Rand (ZAR) Sweden Kroner (SEK) Syria Pound (SYP) Taiwan NT Dollar (TWD) Venezuela Bolivar (VEB) Microfinance and financial inclusion In 2000, the General Banking Law mandated the BSP to recognize microfinance as a legitimate banking activity and to set the rules and regulations for its practice within the banking sector. In the same year, the BSP declared microfinance as its flagship program for poverty alleviation. The BSP has become the prime advocate for the development of microfinance. To this end, the Bangko Sentral aims to: Provide the enabling policy and regulatory environment; Increase the capacity of the BSP and banking sector on microfinance operations; and Promote and advocate for the development of sound and sustainable microfinance operations. The Bank is active in promoting a financial inclusion policy and is a leading member of the Alliance for Financial Inclusion. It is also one of the original 17 regulatory institutions to make specific national commitments to financial inclusion under the Maya Declaration during the 2011 Global Policy Forum held in Mexico. Anti-money laundering With money laundering being one of the problems of the Philippines, the BSP has issued a number of measures to bring the Philippines' regulatory regime on money laundering closer to international standards. In September 2001, the Anti-Money Laundering Act, or AMLA, was made into law. The AMLA defined money laundering a criminal offense, and prescribed corresponding penalties. It also provided the foundation for a central monitoring and implementing council called the Anti-Money Laundering Council (AMLC). The AMLC is composed of the Governor of the Bangko Sentral as chair, and the Commissioner of the Insurance Commission and the Chairman of the Securities and Exchange Commission as members, all acting unanimously in the discharge of the group's mandate. In February 2013, Philippine President Benigno Aquino III signed "R.A. No. 10365" known as An act further strengthening the Anti-Money Laundering Law, which aims to strengthen the AMLC by requiring that any suspicious transaction in foreign exchange, real estate, and jewelry and precious metal trading be reported. Governors Logo The current logo of the Bangko Sentral ng Pilipinas was adopted in January 2021 with the design receiving endorsement by the National