As the 15th Congress winds to a close, graduating Senator Edgardo J. Angara ends his term with a rousing "valedictory" speech, thanking everyone who took part in his projects and initiatives in his 24 years in the Senate.
I entered the Senate during an era far different from this one I am leaving after 23 years.
In 1987, I joined a legislature charged to help restore democracy after years of authoritarianism and rebuild a nation beset with decline and corruption.
Rampant poverty, crime and economic stagnation hounded the country, making these the foremost challenges a renascent Congress had to address head on.
Senator Edgardo J. Angara called on the administration to strengthen the powers of the Anti-Money Laundering Council (AMLC) in the coming year by passing the anti-terrorist funding bill now pending at the Senate.
“We must not let another year pass without establishing a comprehensive anti-terrorism framework. Now that this bill is moving forward in the Senate, I urge my colleagues to act on it without delay,” said Angara, who filed Senate Bill No. 2676, “An Act Defining Terrorist Financing as a Crime and Providing Penalties Therefor” earlier this year.
The Senate Committee on Banks, Financial Institutions and Currencies is set to adopt in full the Terrorist Financial Suppression Act of 2011 (Senate Bill No. 2676) authored by Senator Edgardo J. Angara.
Sen. Teofisto L. Guingona III, Chair of the Sub-Committee on the Anti-Money Laundering Act, is expected to sponsor the measure on the floor following yesterday's hearing.
Senator Edgardo J. Angara stressed the importance of making the Central Credit Information Corporation (CCIC) fully operational in line with the recommendation of the International Finance Corporation (IFC).
In its 2012 Doing Business report, the IFC said a fully functioning CCIC will give the country a significant edge in terms of making its business climate more attractive to potential investors.