The Philippine Anti-Money Laundering Council (AMLC) will issue a casino regulatory framework by the third week of October, according to the Manila Bulletin.

AMLC is mandated by the Philippine law to come up with an implementing rules and regulations within 90 days after Republic Act No. 10927 or “An Act Designating Casinos as Covered Persons under the AMLA, as amended, otherwise known as the Anti-Money Laundering Act of 2001 (AMLA)” has taken effect.

“Based on our time line, we might be able to issue one week before the deadline,” AMLC executive director Attorney Mel Georgie Racela said at the sidelines of the SGV seminar on Anti-Money Laundering (AML) and Combating the Financing of Terrorism. “We’re looking at between October 10 and 14 to get approval from our respective boards (AMLC).”

Once they issued the IRR, Racela said they will subsequently issue different guidelines.